Which of the following is a FALSE statement?
A) XBRL makes data extraction easier.
B) XBRL makes data analysis easier.
C) XBRL makes consolidations more efficient.
D) XBRL deals with numbers, not terminology.

Question

Quizplus · Accepted Answer

XBRL (eXtensible Business Reporting Language) is designed to improve the efficiency and accuracy of business reporting. It deals with both numbers and terminology, as it uses tags to describe data in terms of what it represents (e.g., net income, revenue) in addition to presenting the figures themselves. This facilitates not only the extraction and analysis of data but also its comparison and understanding across different reports and entities.

Which of the Following Is a FALSE Statement