Which of the Following Is Not a Benefit of XBRL

question 68

Multiple Choice

Which of the following is not a benefit of XBRL?

• A)Reduced data quality
• B)Reduced processing time
• C)Greater data integrity
• D)Increased standardization

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Definitions:

Noncash Assets

Assets that cannot be easily converted into cash, including property, plant, equipment, patents, and trademarks.

Gain or Loss

The financial result of transactions that leads to an increase (gain) or decrease (loss) in the capital of an entity, not related to its primary operations.

Capital Balances

The amount of funds that each partner or shareholder has contributed to a company, not including any profits or losses retained in the company.

Partnership Liabilities

Obligations and debts that are shared by partners in a partnership arrangement.