Organizations can benefit from XBRL by obtaining quicker responses from counterparties. Examples of counterparties include:

Name: Organizations can benefit from XBRL by obtaining quicker responses from counterparties. Examples of counterparties include:
Brand: Quizplus
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Question

Quizplus · Accepted Answer

XBRL allows organizations to format and standardize financial data, making it easier for counterparties such as lenders and regulatory bodies like the SEC to access and analyze the information efficiently. Therefore, both options A and B are correct.

Organizations Can Benefit from XBRL by Obtaining Quicker Responses from Counterparties