XBRL's Global Ledger Taxonomy Can Be Used for Transaction Processing

question 62

Multiple Choice

XBRL's global ledger taxonomy can be used for transaction processing, while the US financial reporting taxonomy is focused on output reports. Which of the following XBRL tags would you expect to find as part of the global ledger taxonomy?

• A)<documentType>invoice</documentType>
• B)<totalAssets>10000</totalAssets>
• C)Both A and B
• D)Neither A nor B

Apply the straight-line, double-declining-balance, and units-of-production methods of depreciation.

Determine the cost allocation for assets purchased as a lump sum.

Identify and calculate the gain or loss on the disposal of plant assets.

Understand how to compute total asset turnover.

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Definitions:

Drug Tests

Medical tests conducted to detect the presence of drugs or their metabolites in the human body.

Controversial

Pertaining to subjects, issues, or matters that provoke public disagreement or debate.

Personnel Selection

The process of interviewing and evaluating candidates for a specific job and choosing the best fit for the position.

Types

Categories or classifications that distinguish between different forms or varieties of objects, concepts, or phenomena.