Which of the Following Statements Related to XBRL Is False

question 46

Multiple Choice

Which of the following statements related to XBRL is false?

• A)XBRL is being developed by a nonprofit consortium of approximately 450 major companies, organizations, and government agencies..
• B)To date world-wide implementation and acceptance of XBRL has been slow.
• C)XBRL can handle data in different languages and accounting standards as well.
• D)XBRL offers cost savings, greater efficiency, and improved accuracy and reliability to all those involved in supplying or using financial data.

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Definitions:

Irrevocable Right

A legal entitlement or privilege that cannot be withdrawn, cancelled, or reversed after it has been granted.

Reverse Engineering

The process of deconstructing a man-made object in order to reveal its designs, architecture, or to extract knowledge from the object.

Trade Secret

A process, product, method of operation, or compilation of information that gives a businessperson an advantage over his or her competitors.

Possessory Interest

A legal right or interest in tangible or intangible property granting the holder physical control or exclusive use.