Extensible business reporting language (XBRL) has which of the following characteristics?
A) XBRL allows for reliable and automatic exchange of financial information across all software formats.
B) XBRL essentially is hypertext markup language (HTML) for financial data and t therefore is basically the same as HTML.
C) XBRL does NOT require the use of tags.
D) XBRL was developed by a single company, whereas HTML was developed by a consortium of many companies, government agencies, and organizations.

Question

Quizplus · Accepted Answer

XBRL allows for reliable and automatic exchange of financial information across all software formats. XBRL is designed specifically for financial reporting, unlike HTML which is designed for general web pages. XBRL uses tags to provide standardized descriptions of financial data, enabling consistent analysis and comparison of data across different organizations, sectors, and countries.

Extensible Business Reporting Language (XBRL) Has Which of the Following