XML-Based Vocabularies, Such as XBRL, Do Not Allow Meaningful Comparisons

question 59

True/False

XML-based vocabularies, such as XBRL, do not allow meaningful comparisons to be made of data across many organizations.

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Definitions:

Opportunity Costs

The cost of an alternative that must be foregone to pursue a certain action. Put another way, the benefits you could have received by taking an alternative action.

Make Total Cost

An approach to calculate the comprehensive cost of manufacturing a product, including raw materials, labor, and overheads.

Buy Total Cost

The total expense incurred to purchase an item or service, including the purchase price and any additional fees or expenses.

Variable Expenses

Costs that vary in total in direct proportion to changes in business activity levels or volumes, such as sales commissions or raw material costs.