In February 2009,the _____ Passed the Rule Requiring All Large

question 53

Multiple Choice

In February 2009,the _____ passed the rule requiring all large domestic publicly traded firms to begin formatting their financial statements using XBRL.

• A)Financial Accounting Standards Board.
• B)International Accounting Standards Board.
• C)American Institute of Certified Public Accountants.
• D)Securities and Exchange Commission.

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Definitions:

Purchasing Department

A division within an organization responsible for acquiring goods, services, and materials necessary for its operations.

Number of Orders Processed

The total quantity of orders that have been completed and shipped to customers within a given time period.

Batch-level Activity

Operations that are performed on groups of units within the production process rather than individually.

Setting up Equipment

The process of assembling, arranging, and making operational machinery or apparatus needed for a specific task or purpose.