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.

Distinguish between various types of computer crimes and their costs to businesses.

Learn about protective measures consumers can take to secure personal and financial information.

Understand the legal protections like patents and copyrights and their durations.

Recognize different forms of malware and their methods of attack.

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Definitions:

Inflationary Gap

A situation where the demand for goods exceeds supply at the current price levels, leading to an increase in prices and inflation.

Equilibrium GDP

The level of Gross Domestic Product where the aggregate supply equals aggregate demand within an economy, leading to a stable economic condition.

Full Employment GDP

The level of GDP produced when the economy is utilizing all available resources, including labor, at the maximum sustainable rate without causing inflation.

Recessionary Gap

A situation where the real Gross Domestic Product (GDP) is lower than the potential GDP, indicating underutilization of resources.