Which of the following formats would most likely eliminate reentry of data and significantly reduce reporting costs for a business?
A) Electronic spreadsheet
B) Electronic word processor
C) HTML
D) XBRL

Question

Quizplus · Accepted Answer

XBRL (eXtensible Business Reporting Language) is specifically designed for business information and financial reporting. It allows for the seamless exchange and analysis of financial information between different software applications, eliminating the need for manual reentry of data and reducing reporting costs. Electronic spreadsheets and word processors may still require manual input and do not have the same level of standardization and integration as XBRL. HTML is a markup language used for creating web pages, not specifically designed for financial reporting.

Which of the Following Formats Would Most Likely Eliminate Reentry