All Publicly Traded Companies Are Required to Use XBRL for SEC

question 25

True/False

All publicly traded companies are required to use XBRL for SEC filings by June 2011.

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Definitions:

Cost of Goods Sold

The total cost directly involved in producing goods or services, which are sold during a particular period.

Weighted-Average

A method used to calculate an average whereby different values have different levels of importance or "weights".

Cost of Goods Sold

The immediate expenses related to the manufacture of products sold by a business, encompassing both materials and workforce.

Perpetual System

An inventory management method that records the sale or purchase of inventory immediately through the use of computerized point-of-sale systems and enterprise asset management software.