The interchangeability of XBRL data between the major accounting software means that once the data is tagged:
A) it cannot be reused.
B) it can be manipulated for analysis purposes.
C) it must be re-entered when a new reporting requirement arises.
D) it can be reused in many ways to meet differing financial reporting requirements.

Question

Quizplus · Accepted Answer

The interchangeability of XBRL data between the major accounting software means that once the data is tagged it can be reused in many ways to meet differing financial reporting requirements. There is no need to re-enter the data just because a new reporting requirement arises.

The Interchangeability of XBRL Data Between the Major Accounting Software