What Is the Primary Benefit of Creating XBRL Financial Reports

question 72

Multiple Choice

What is the primary benefit of creating XBRL financial reports and electronically disseminating them?

• A) The results of a company's operations can be graphically displayed.
• B) Information can be published one time and then extracted electronically for other purposes thereby eliminating the need to identify and reenter the data.
• C) Information stored in tables can be easily accessed through a query language.
• D) Data can be easily shared by authorized users.

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Definitions:

Real GDP

The measure of a country's economic output adjusted for price changes (inflation or deflation), reflecting the true value of goods and services produced.

Recessions

Episodes of brief economic downturn where business and manufacturing activities decline, usually signaled by a decrease in the GDP for two back-to-back quarters.

Aggregate Demand

Collective appetite for goods and services in an economic system, pegged at a particular comprehensive price level for a fixed time frame.

Short-Run Aggregate Supply

The total output of goods and services that firms in an economy are willing to produce at different price levels in the short term, holding some input prices fixed.