XBRL's Global Ledger Taxonomy Can Be Used for Transaction Processing

question 46

Multiple Choice

XBRL's global ledger taxonomy can be used for transaction processing, while the US financial reporting taxonomy is focused on output reports.Which of the following XBRL tags would you expect to find as part of the US financial reporting taxonomy?

• A)<documentType>invoice</documentType>
• B)<totalAssets>10000</totalAssets>
• C)Both <documentType>invoice</documentType> and <totalAssets>10000</totalAssets>
• D)Neither <documentType>invoice</documentType> nor <totalAssets>10000</totalAssets>

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Definitions:

FCFF

Free Cash Flow to the Firm; a measure of financial performance that shows how much cash is generated by a company after accounting for capital expenditures and operating expenses.

EBIT

Stands for Earnings Before Interest and Taxes, a measure of a firm's profit that includes all incomes and expenses except interest and income tax expenses.

Depreciation

The gradual reduction in the fair market value of tangible assets over time due to use, wear, and tear or obsolescence.

Dividend Increase

An action by a company to raise the amount of dividends paid per share, often seen as a sign of the company's strong financial health and future prospects.