The benefits of XBRL include:
A)XBRL enables organizations to publish financial information only once,using standard XBRL tags.
B)XBRL tagged information is interpretable and doesn't need to be re-entered by users.
C)Both are benefits of XBRL
D)Neither are benefits of XBRL

Question

Quizplus · Accepted Answer

Both options A and B are benefits of XBRL. XBRL allows organizations to publish financial information only once using standard XBRL tags, reducing duplication of work and streamlining the reporting process. In addition, XBRL tagged information is easily interpretable and doesn't need to be re-entered by users, reducing the risk of errors and increasing the efficiency of data analysis.

The Benefits of XBRL Include