All of the Following Are Benefits of XBRL Except

question 117

Multiple Choice

All of the following are benefits of XBRL except:

• A)Companies can file financial information in one format, avoiding the errors that may come from reentering data multiple times
• B)The SEC accepts XBRL-format for electronic filing of financial statement reports
• C)XBRL permits the automatic and reliable exchange of financial information across many software formats and technologies, including the Internet
• D)all of the above are benefits of XBRL
• E)none of the above are benefits of XBRL

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Definitions:

Profit

The financial gain achieved when the total revenues generated from business activities exceed the total costs and expenses incurred.

Market Value

The ongoing price for the transaction of assets or services within the marketplace.

Interest Rate

The percentage of a sum of money charged for its use, often expressed as an annual percentage rate.

Net Income

The total profit of a company after all expenses and taxes have been deducted from total revenue.