The statement concerning the XBRL system of reporting that is not true is:
A)It was developed by the IASB
B)It is required to be used by the largest companies to file their reports
C)It is hoped that it will allow much faster analysis of company financial data by a wider group of users,with less error.
D)None of the statements is untrue,i.e.all are true statements

Question

Quizplus · Accepted Answer

The XBRL system of reporting was not developed by the IASB, but instead by a consortium of different organizations including accounting firms, software companies, and regulatory bodies.

The Statement Concerning the XBRL System of Reporting That Is