XBRL Taxonomies Are Classification Schemes That Are Compliant with the XBRL

question 23

True/False

XBRL taxonomies are classification schemes that are compliant with the XBRL specifications to accomplish a specific information exchange.

Examine the impact of competitive forces and the need for innovation in product and service offerings.

Understand global population trends and demographic estimates.

Recognize demographic characteristics that describe a population.

Analyze the impact of demographic changes on society and markets.

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Definitions:

Standard Deviation

A numerical indicator that calculates the degree of spread or deviation of a data set values from their average.

Salvage Value

The estimated residual value of an asset at the end of its useful life, reflecting what it can be sold for or its value for parts.

Safety Stock

Inventory kept on hand to protect against fluctuations in demand or supply, acting as a buffer to prevent stockouts.

Stockout

A situation in inventory management where the demand for an item cannot be fulfilled due to the absence of the item in stock.