XBRL's global ledger taxonomy can be used for transaction processing, while the US financial reporting taxonomy is focused on output reports.Which of the following XBRL tags would you expect to find as part of the US financial reporting taxonomy? A)invoice B)10000 C)Both invoice and 10000 D)Neither invoice nor 10000

Question

Quizplus · Accepted Answer

The US financial reporting taxonomy focuses on financial reporting and would therefore include tags such as to report on a company's total assets. The tag is not typically used in financial reporting and would not be included in this taxonomy.

XBRL's Global Ledger Taxonomy Can Be Used for Transaction Processing