Consider the table below as you answer the questions: In the table, "us_gaap" would best be described as:
A)a taxonomy
B)a namespace
C)an instance document
D)an application of the FASB Conceptual Framework

Question

Consider the table below as you answer the questions:  In the table, "us_gaap" would best be described as:
A)a taxonomy 
B)a namespace 
C)an instance document 
D)an application of the FASB Conceptual Framework

Quizplus · Accepted Answer

"us_gaap" refers to the United States Generally Accepted Accounting Principles taxonomy, which is a standardized set of financial reporting concepts and definitions for use in XBRL (eXtensible Business Reporting Language) filings. Therefore, it is a taxonomy.

Consider the Table Below as You Answer the Questions