XBRL can best be described as a
A)new set of auditing standards.
B)new set of accounting standards.
C)new set of ethical standards.
D)a tagging system for financial statement data.

Question

Quizplus · Accepted Answer

XBRL stands for eXtensible Business Reporting Language and is a tagging system used to label financial statement data. It allows for standardized reporting and easier analysis of financial information across different companies and industries. It is not a set of auditing, accounting, or ethical standards.

XBRL Can Best Be Described as a