Which of the Following Statements Related to XBRL Is False

question 68

Multiple Choice

Which of the following statements related to XBRL is false?

• A) is an XML-based language consisting of a set of tags that are used to unify the presentation of business reporting information into a single format
• B) it is easily read by almost any software package, and easily searched by Web browsers
• C) it provides an identifying tag for each individual item of data that is computer readable
• D) it treats financial information as a block of text

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Definitions:

Basic Standard Deduction

represents the portion of income not subject to tax that can reduce the taxable income, set by the IRS, varying by filing status.

Dependent

An individual, typically a child or family member, who relies on another for financial support and qualifies for certain tax benefits.

Earned Income

Income generated from active employment and work, including wages, salaries, tips, and other compensation.

Qualifying Widow(er)

A tax filing status allowing a surviving spouse with a dependent child to use married filing jointly tax rates for up to two years after the year of their spouse's death.