The goal of using eXtensible Business Reporting Language (XBLR)in compliance reporting is to ________.
A)develop a common language for all accounting and business reports
B)avoid transparency so that financial data are kept confidential
C)ensure that only computer programs know the meaning of tagged concepts in reports
D)ensure that only humans know the meaning of tagged concepts in reports

Question

Quizplus · Accepted Answer

The goal of using eXtensible Business Reporting Language (XBLR) in compliance reporting is to develop a common language for all accounting and business reports, which promotes transparency, consistency, and comparability in financial reporting. This makes it easier for stakeholders to access and understand financial information, ensuring greater accountability and improved decision-making. XBLR eliminates the need for manual data entry and reduces errors, making compliance reporting more efficient and reliable.

The Goal of Using EXtensible Business Reporting Language (XBLR)in Compliance