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:

Restatement

A rephrasing or clarification of a statement or document, often used to clarify legal principles or statutes.

Certificate of Occupancy

A document issued by a local government or building department certifying that a building complies with applicable building codes and other laws, and is safe to occupy.

Implied-in-Fact Condition

A legal term for conditions in a contract that are not stated but are understood as a necessary part of the agreement based on the circumstances and actions of the parties involved.

Condition Subsequent

A legal term that describes a condition in a contract that, if fulfilled, terminates the obligation or contract itself.