An XBRL taxonomy:
A) is the document format used to produce web pages.
B) is the final product (report).
C) is a classification scheme.
D) is a tag stored in each database record.
E) none of the above is true.

Question

Quizplus · Accepted Answer

An XBRL (eXtensible Business Reporting Language) taxonomy is a classification scheme used to organize information in a standardized way for financial reporting. It defines how data elements are named, defined, and interrelated, allowing for consistent and accurate financial reporting across different organizations and systems.

An XBRL Taxonomy