Because XBRL Is an "Open Source" Information Technology Tool, Companies

question 28

Multiple Choice

Because XBRL is an "open source" information technology tool, companies can:

• A)Add tags as necessary.
• B)Choose which tagging software they will use.
• C)Both add tags as necessary and choose which tagging software they will use.
• D)Neither add tags as necessary nor choose which tagging software they will use.

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Definitions:

Business Processes

A set of connected tasks or activities that once completed will accomplish a specific organizational goal.

Preferred Goals

Objectives or outcomes that are more desirable or have been prioritized by an individual or organization.

Dual Accountability

The concept where an individual or entity is held responsible to two different authorities or sets of standards.

Establishing Controls

The process of implementing procedures or systems to manage, regulate, and guide activities within an organization, ensuring that objectives are met.