An XBRL Taxonomy

question 84

Multiple Choice

An XBRL taxonomy:

• A) is the document format used to produce web pages.
• B) is the final product (report).
• C) is a classification scheme.
• D) is a tag stored in each database record.
• E) none of the above is true.

Analyze changes in inventory accounts and their effects on cost of goods sold and manufactured.

Grasp the relationship between direct materials, work in process, and finished goods inventories in the accounting cycle.

Understand the principles and methods of horizontal and vertical financial analysis.

Identify and explain the significance of various financial ratios in assessing a company's financial health.

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Definitions:

Services

Intangible products or activities provided by one party to another, often involving a time-based performance to meet needs or bring benefits to recipients.

Canadian Dollar

The currency of Canada, represented by the symbol CAD or simply $ within Canada.

U.S. Dollar

The official currency of the United States, often used as a standard unit of currency in international markets due to its widespread acceptance.

Canadian Exports

Canadian exports refer to goods or services that are produced in Canada and sold to buyers in other countries.