An Extensible Markup Language Designed Specifically for Financial Reporting Is

question 81

Multiple Choice

An extensible markup language designed specifically for financial reporting is:

• A)Internet DI
• B)XML
• C)XBRL
• D)XFRL
• TEST BANK - CHAPTER 14 - MULTIPLE CHOICE

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Definitions:

Unit Production Costs

The total cost associated with producing one unit of a product, including both direct costs like materials and labor, as well as allocated overhead.

Flow of Costs

The movement and assignment of costs through a company's production processes to its products or services.

Process Costing System

Accounting methodology used for homogeneous products, calculating costs at each stage of the manufacturing process.

Mass-Produced

Items or products manufactured in large quantities using automated processes and standardized components, allowing for economies of scale.