XBRL is a significant step forward for business reporting because:
A) it represents the collaboration of some of the leading industrialised nations and some of the largest commercial firms.
B) of the impact that it will have on users of financial information.
C) it enhances the ability to search for particular items of information.
D) All of the above.

Question

Quizplus · Accepted Answer

XBRL is a significant step forward for business reporting for several reasons. It represents the collaboration of some of the leading industrialised nations and some of the largest commercial firms. XBRL is also significant for the impact it will have on users of financial information. Financial statement analysis tasks, such as searching for particular items of information, will be made easier.

XBRL Is a Significant Step Forward for Business Reporting Because