Large banks around the world:
A)are beginning to require companies to use XBRL in their loan application processes
B)are yet to require companies to use XBRL in their loan application processes
C)are not convinced on the benefits of XBRL
D)none of the options are correct

Question

Quizplus · Accepted Answer

Large banks around the world are beginning to require companies to use XBRL in their loan application processes. XBRL improves efficiency and accuracy in financial reporting, which benefits both the banks and the companies seeking loans. As a result, more banks are adopting this requirement.

Large Banks Around the World