The "X" in XBRL stands for extensible.Which of the following can an individual company extend when using XBRL?
A)Instance documents
B)Taxonomies
C)Specifications
D)All of these

Question

Quizplus · Accepted Answer

An individual company can extend taxonomies when using XBRL. Taxonomies are the standardized lists of financial tags that are used to label financial data for consistent reporting. Companies can create their own extensions and add them to the existing taxonomy to better reflect their unique reporting requirements. Instance documents and specifications cannot be extended by individual companies.

The "X" in XBRL Stands for Extensible