The Goal of Using EXtensible Business Reporting Language (XBLR)in Compliance

question 116

Multiple Choice

The goal of using eXtensible Business Reporting Language (XBLR) in compliance reporting is to ________.

• A)develop a common language for all accounting and business reports
• B)avoid transparency so that financial data are kept confidential
• C)ensure that only computer programs know the meaning of tagged concepts in reports
• D)ensure that only humans know the meaning of tagged concepts in reports

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Definitions:

Postindustrialism

A phase in economic development where service industries and knowledge-based sectors become more significant than the manufacturing or agriculture industries.

Economic Equality

Economic equality is the principle of fairness in economic distribution, aiming for equal access to wealth, resources, and opportunities regardless of background or identity.

Elite Theory

A theory in sociology and political science that suggests societies are divided between a small ruling elite and the masses, with the elite exercising significant power over resources and decision-making.

Sociologists

Researchers who analyze the social phenomena, interactions, and structures within human groups and societies.