XBRL Does All of the Following Except

question 43

Multiple Choice

XBRL does all of the following except:

• A) Enhances speed and accuracy of business reporting.
• B) Provides major benefits in the preparation, analysis and communication of business information.
• C) Serves as a universal standard for financial reporting information in the individual investor community.
• D) Facilitates business reporting of financial and nonfinancial data.

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Definitions:

Continuous Budget

A rolling financial plan that continuously updates by adding a new period as the current period is completed.

Zero-Based Budget

A budgeting method where all expenses must be justified for each new period, starting from a "zero base," with no reference to previous budgets.

Flexible Budget

A budget that adjusts or varies with changes in volume or activity, allowing for more accurate forecasting and planning.

Production Budget

An estimated financial plan for the production process, detailing costs and resources needed to meet production goals.