The SEC's Rule Titled "Interactive Data to Improve Financial Reporting

question 25

Multiple Choice

The SEC's rule titled "Interactive Data to Improve Financial Reporting" resulted in which of the following?

• A)XBRL International now creates yearly taxonomies for XBRL filing.
• B)Large accelerated filers must now format their financial statements using XBRL.
• C)U.S.banks must submit their quarterly "Report of Condition and Income" using XBRL.
• D)Updated the XBRL specification to the most current version.

Understand the fundamental principles of contract law, including offer, acceptance, and consideration.

Differentiate between offers and invitations to treat.

Identify the conditions under which an offer can be revoked.

Comprehend the effects of counter-offers on the original offer.

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Definitions:

Utility Company

A company that provides essential services such as electricity, water, and natural gas to consumers and businesses.

Grocery Store

A retail establishment selling food and other household goods. Often considered an essential service providing everyday necessities to the public.

External Cost

Costs of a transaction or activity that affect parties who did not choose to incur that cost, often referred to in the context of negative externalities in environmental economics.

Postal Worker

An employee of the postal service who is involved in the processing, delivery, or handling of mail.