XML Is an XBRL-Based Language Consisting of a Set of Tags

question 75

True/False

XML is an XBRL-based language consisting of a set of tags that are used to unify the presentation of business reporting information into a single format that can be easily read by almost any software package and can be easily searched by web browsers.

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Definitions:

Collection Period

The amount of time it takes for a business to receive payments owed by its customers.

Cash Disbursements

Financial payments made by a business, including expenses, creditor payments, and inventory purchases.

Seasonal Merchandise

Products that are particularly popular or in demand during specific seasons or periods of the year.

Maturity Hedging

A financial strategy used to manage the risk associated with the timing of cash flows, particularly the mismatch between asset maturities and liability maturities.