Communications technology and the Internet can be used to reduce the time and costs involved in disseminating financial statement information.Users of such financial information still struggle in that many recipients have different information delivery requirements and may have to manually reenter the information into their own decision analysis tools.The ideal solution to solve these problems and efficiently transmit financial information via the Internet is to use
A) HTML code.
B) XML.
C) pdf file.
D) XBRL.

Question

Quizplus · Accepted Answer

XBRL (extensible Business Reporting Language) is specifically designed for the electronic transmission of financial information. It is an open standard that allows for the easy exchange of financial information between organizations, reducing the need for manual reentry and standardizing delivery requirements. HTML, XML, and PDF files are not designed specifically for financial reporting and may not have the same level of standardization and ease of use for financial information.

Communications Technology and the Internet Can Be Used to Reduce