XBRL can be used for:
A)external financial reporting only
B)internal financial reporting only
C)both external and internal financial reporting
D)exchanging financial information between business partners only

Question

Quizplus · Accepted Answer

XBRL can be used for both external financial reporting (such as filing reports with regulatory bodies) and internal financial reporting (such as sharing financial information between different departments within a company). While it can also be used for exchanging financial information between business partners, this is not its only use.

XBRL Can Be Used For