Which of the following benefits of XBRL would be most beneficial for a company that just acquired an organization that utilized different accounting software?
A) XBRL improves data extraction capabilities.
B) XBRL can integrate nonfinancial data.
C) XBRL data is software agnostic.
D) All of these answer choices are correct.

Question

Quizplus · Accepted Answer

XBRL (eXtensible Business Reporting Language) being software agnostic means it can operate across different software platforms. This is particularly beneficial for a company that has acquired another organization using different accounting software, as it allows for seamless integration and communication of financial data between the two entities' systems.

Which of the Following Benefits of XBRL Would Be Most