Which of the Following Statements Is Correct Regarding Extensible Business

question 23

Multiple Choice

Which of the following statements is correct regarding extensible business reporting language (XBRL) ?

• A) XBRL avoids errors by eliminating the need to reenter data.
• B) XBRL is equivalent to hypertext markup language (HTML).
• C) XBRL does NOT require the use of tags.
• D) XBRL was developed by a single company.

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Definitions:

Bond Discount

The discrepancy between a bond's nominal value and its selling price that occurs when the bond is retailed at a price lower than its nominal value.

Debt Extinguishment

Refers to the process of permanently removing a debt obligation through payment or other financial arrangements.

Maturity Value

The amount payable to an investor at the end of a bond's term or an investment's life.

Accrued Interest

The interest that has accumulated over a period of time but has not yet been paid by the borrower.