XBRL is a language that facilitates the exchange of financial statements over the Internet.

Question

Quizplus · Accepted Answer

XBRL, or eXtensible Business Reporting Language, is a standardized language that is used to describe financial information such as financial statements, regulatory filings, and other financial reports. XBRL facilitates the exchange of this information over the Internet, making it easier for investors, analysts, and other stakeholders to access and analyze financial data. Therefore, the statement that XBRL is a language that facilitates the exchange of financial statements over the Internet is true.

XBRL Is a Language That Facilitates the Exchange of Financial