The goal of using XBRL in compliance reporting is to ________.
A)identify events that fall outside accepted ranges
B)develop a common language for financial reporting
C)create streamlined, manual workflows
D)encourage diversity in reporting practices

Question

Quizplus · Accepted Answer

XBRL is a standardized language for financial reporting that allows for easier comparison and analysis of financial information. Its use in compliance reporting helps create a common language and streamlines the reporting process. It does not focus on identifying events outside accepted ranges or encouraging diversity in reporting practices.

The Goal of Using XBRL in Compliance Reporting Is to ________