Credit Rating Agencies Must Use XBRL for Reporting All Ratings

question 55

True/False

Credit rating agencies must use XBRL for reporting all ratings beginning in August 2020.

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Definitions:

Held-to-maturity Securities

Debt securities which a company has the positive intent and ability to hold until maturity.

Debt Securities

Financial instruments representing money borrowed that must be repaid, typically with interest, such as bonds, bills, or notes.

Equity Securities

Equity securities are financial instruments that represent ownership in a company, such as stocks, giving holders the right to a proportion of the company’s profits.

Fair Value Accounting

is a financial reporting approach where companies value their assets and liabilities at estimates of their current market prices.