From an Accountant's Perspective, One of the Benefits of XBRL

question 18

Multiple Choice

From an accountant's perspective, one of the benefits of XBRL is the ability to obtain more rapid and reliable data and information on company financial performance. Such items would include:

• A)General purpose financial statements.
• B)Chart of accounts
• C)Both A and B.
• D)Neither A nor B.

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Definitions:

Cash Flows

The summed total of money flowing in and out of an enterprise, notably in terms of affecting its liquid assets.

Financing Activities

Transactions and events where a business raises funds to support its operations and expansions, typically involving debt or equity.

Issuing Debt

The process by which a company or governmental entity raises funds by selling bonds, notes, or other financial instruments to creditors.