Which of these is not an advantage of XBRL?
A)It often enables businesses to avoid rekeying data downloaded from corporate websites
B)It constrains companies to particular formats, thus ensuring consistency
C)It helps standardize the storage and therefore presentation of financial information
D)all of these are advantages of XBRL

Question

Quizplus · Accepted Answer

XBRL (eXtensible Business Reporting Language) is designed to improve the flexibility and efficiency of financial reporting. It does not constrain companies to particular formats in a limiting way; instead, it standardizes data representation for easier sharing and analysis, thus B is not an advantage but a misconception about XBRL.

Which of These Is Not an Advantage of XBRL