The US SEC Started Mandating XBRL Filings for Selected Companies

question 56

Multiple Choice

The US SEC started mandating XBRL filings for selected companies in

• A)2009
• B)2011
• C)2010
• D)2012

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Definitions:

Cost of Goods Sold

Represents the direct costs attributable to the production of the goods sold in a company, including the cost of the materials and labor directly used to create the product.

Receivables

Debts that customers have towards a firm for items or services that have been received or employed, yet remain unpaid.

Accounts Payable

Money owed by a company to its suppliers or vendors for products or services that have been received but not yet paid for.

Cost of Goods Sold

The direct expenses related to the production of goods sold by a business, including materials and labor costs.