The XBRL Taxonomy Helps Define and Describe Each Key Data

question 18

True/False

The XBRL taxonomy helps define and describe each key data element (such as cash or employee spending).

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Definitions:

Training Budget

The allocation of financial resources dedicated to training and development activities within an organization.

Profit-Sharing

A compensation strategy where employees receive a portion of the company's profits in addition to their regular salary, linking their earnings to the company’s performance.

Flexible Benefit Plans

Employee benefit programs that allow workers to choose from a variety of pre-tax benefits, customized to their personal needs.

Skill-Based Pay

A compensation system where employees are paid based on the skills and qualifications they bring to their job, rather than just their job title or position.