The Main Issue of XBRL Tags in an Accounting System

question 36

Multiple Choice

The main issue of XBRL tags in an accounting system is to ensure the tags that are set up against the chart of accounts codes in the __________ are correct and have been verified.

• A)accounts payable ledger
• B)general ledger
• C)accounts receivable ledger
• D)inventory ledger

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Definitions:

Premium Payment

The periodic amount paid by an insurance policyholder to an insurance company in exchange for the coverage provided by the policy.

Prepaid Workers' Compensation

An asset account that represents payments made in advance for workers' compensation insurance coverages.

Workers' Compensation Insurance Expense

The cost incurred by employers to provide insurance that covers employees' injuries or illnesses related to work.

Payroll Tax Deductions

Amounts withheld from an employee's wages by an employer for taxes, including federal and state income tax and FICA taxes.