The Advantages of XBRL Include Decreases in the Need for Manual

question 180

True/False

The advantages of XBRL include decreases in the need for manual searches through corporate reports for specific pieces of information as well as facilitating the comparison of companies results to industry averages and to each other.

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Definitions:

Cash Receipts And Disbursements Method

An accounting method where income and expenses are recorded when they are actually received or paid.

Tax Returns

Tax Returns are official documents that taxpayers must file with the government, reporting their income, expenses, and other tax-related information.

Individuals

Persons as separate entities for legal or tax purposes, often considered for taxation, rights, and responsibilities.

Worker's Compensation Payments

Payments made to employees who are injured or become ill due to their job, covering medical expenses and lost wages.