Which of the Following Statements About XBRL Is FALSE

question 2

Multiple Choice

Which of the following statements about XBRL is FALSE?

• A)The US is the first country to mandate use of XBRL.
• B)XBRL will decrease the need for manual financial information searches.
• C)XBRL is only required for publicly-traded companies.
• D)XBRL should decrease the time companies spend converting their financial information into various government-prescribed formats.

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Definitions:

Myths

Traditionally shared stories or beliefs, often involving supernatural beings or forces, that serve to explain natural phenomena or cultural practices.

Marriage

A legally and socially sanctioned union between individuals that establishes rights and obligations between them, as well as between them and their children, and between them and their in-laws.

Dysfunctional

Referring to systems, relationships, or behaviors that are impaired or operate in an unhealthy or abnormal manner.

Bonus

An additional compensation given to employees as a reward for achieving targets or exceptional performance.