Tagging Is the Process of Associating an Item in Accounts

question 28

Multiple Choice

Tagging is the process of associating an item in accounts to the XBRL __________ in an XBRL __________.

• A)element;taxonomy
• B)tag;schema
• C)element;schema
• D)tag;taxonomy

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Definitions:

Cash Flow

The total amount of money being transferred into and out of a business, indicating its operational health and liquidity.

Income

Money received, especially on a regular basis, for work or through investments.

Spending

The act of disbursing money or resources for various purposes, including procurement, operations, and investments.

IRR

Internal Rate of Return, a financial metric used to evaluate the profitability of potential investments.