XBRL Helps Organizations Save Cost By

question 46

Multiple Choice

XBRL helps organizations save cost by:

• A) Eliminating the need for accountants.
• B) Avoiding re-keying of data.
• C) Guaranteeing data accuracy.
• D) Replacing general ledger software.

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Definitions:

Better Title

A legal principle indicating that among multiple claims to ownership or rights, one claim is superior or more legally valid than the others.

Goods

Tangible personal property, often referred to in the context of buying, selling, or trading physical items.

Commercially Reasonable

Actions or procedures that a prudent person would believe to be appropriate and reasonable in the context of conducting business.

Good Faith

The honest intent to act without taking an unfair advantage over another party in a transaction.