What Feature of XBRL Is Indicated by the Highlighted Phrase

question 17

Essay

What feature of XBRL is indicated by the highlighted phrase in each of the following items? (Do not limit yourself to the five key terms discussed in the text.)
a.A bank would use a different set of XBRL tags than a manufacturer.
b.Certain sets of XBRL tags conform to both a specific version of XBRL and XBRL guidelines for specific sets of tags.
c.Companies can tag their general purpose financial statements with XBRL, as well as their SEC filings.
d.No-one pays to use XBRL.
e.Software capable of interpreting XBRL tags can look on the Internet to find the meaning of those tags.
f.Some sets of XBRL tags conform only to a specific version of XBRL; they need further development.
g.Syntax and punctuation are important when creating an instance document.
h.There are many languages similar to XBRL; all of them belong to the larger XML family.
i.There is an entire set of tags devoted to managing internal information, such as a chart of accounts or journal entries.
j.XBRL facilitates interpretation of accounting numbers.

---

Definitions:

LIFO

Last In, First Out, an inventory valuation method where the most recently produced or acquired items are the first to be expensed.

U.S. Tax Rules

The laws and regulations governing the taxation of individuals and corporations in the United States.

IFRS

Stands for International Financial Reporting Standards, a set of accounting standards developed by the International Accounting Standards Board (IASB) for global use.

Absorption Costing

An accounting method that includes all manufacturing costs (direct materials, direct labor, and both variable and fixed overhead) in the cost of a product.