Which of the Following Best Describes a Reason That Companies

question 12

Short Answer

Which of the following best describes a reason that companies would want assurance on their XBRL filings?
A. Companies may begin to tag XBRL filings in more detail than is currently disclosed, introducing new information to investors.
B. The SEC requires assurance on XBRL filings.
C. XBRL International mandates assurance for all XBRL filings using current taxonomies.
D. Statement on Auditing Standards number 32 mandates assurance on XBRL filings.

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Definitions:

Patents

Legal documents granting inventors exclusive rights to their inventions for a certain period, preventing others from making, using, or selling the invention without permission.

Government Franchising

A method whereby the government grants a private entity the right to operate a public service or business within a certain territory or function.

Essential Resource

A resource considered vital for the survival of an economy or the operation of a business.

Long Run

A period in economics sufficient for all markets to adjust, including production levels, prices, and resource allocation, often contrasted with the short run where some factors are fixed.