Which of the Following Is NOT a Major Benefit Offered

question 46

Multiple Choice

Which of the following is NOT a major benefit offered by XBRL?

• A)Cost saving in supplying financial data.
• B)Greater efficiency in using financial data.
• C)Improved accuracy and reliability in supplying financial data.
• D)Enhanced encryption in supplying financial data.

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Definitions:

Performance Reviews

The assessment of an employee's job performance over a specific period, typically used to identify strengths and areas for improvement.

Client's Funds

Money that belongs to clients and is held in trust by attorneys or other professionals, to be used for specific client-related purposes.

Law Firm's Funds

Financial resources controlled by a law firm, including operating capital, client funds, and escrow accounts.

Overhead Expenses

Overhead Expenses refer to ongoing business expenses not directly tied to creating a product or service but necessary for running the business, such as rent, utilities, and salaries.