Bumble Beasley Commented: "I Understand the Benefits of XBRL, but Tagging

question 25

Multiple Choice

Bumble Beasley commented: "I understand the benefits of XBRL, but tagging all our company's journal entries and financial statements is too much work." Which of the following is the best response to Bumble's comment?

• A)XBRL cannot be used to tag journal entries.
• B)The tagging process can be automated.
• C)Both A and B.
• D)Neither A nor B.

---

Definitions:

Preoperational

A stage in Jean Piaget's theory of cognitive development (ages 2 to 7) where children start to use language and think symbolically but lack the ability for abstract thinking.

Transform Information

The process of changing or converting data and information into a different format or structure for understanding or analysis.

Operate

To function or work in a particular manner or context, often referring to machines, systems, or procedures.

Egocentrism

Egocentrism is the inability to differentiate between one's own perspective and someone else's perspective, often observed in children during the pre-operational stage of cognitive development according to Piaget.