Benefits of XBRL Include

question 32

Multiple Choice

Benefits of XBRL include:

• A)Achieving quicker and more efficient decisions.
• B)Improving investor relations through provision of more transparent and user-friendly information.
• C)Both A and B.
• D)Neither A nor B.

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Definitions:

Interest Income

Income earned from lending funds or depositing money in interest-bearing accounts.

Budgetary Control Accounts

Accounting tools used to compare actual financial performance with budgeted amounts, facilitating effective financial management and control.

Budgeted Expenditures

The estimated amount of money allocated for specific expenses in a future period as part of a budgeting process.

Budgeted Revenues

Estimated income that an organization forecasts to receive over a certain period according to its budget plan.