The statement that "All current software can import,export and process data in XBRL format" is put forward on the basis that:
A)These pieces of software can manipulate XML.
B)These pieces of software are designed specifically to support XBRL.
C)These pieces of software are semantic-based.
D)These pieces of software are GAAP and IFRS compliant.

Question

Quizplus · Accepted Answer

The statement that "All current software can import, export and process data in XBRL format" is put forward on the basis that these pieces of software can manipulate XML. XBRL is based on XML, which is a markup language used for encoding documents in a human-readable and machine-readable format. Therefore, software that can manipulate XML can also support XBRL without being specifically designed for it, being semantic-based, or complying with GAAP and IFRS.

The Statement That "All Current Software Can Import,export and Process