When organizations use XBRL, they can free themselves from:
A)Proprietary systems.
B)The steps in the accounting cycle.
C)Both proprietary systems and the steps in the accounting cycle.
D)Neither proprietary systems nor the steps in the accounting cycle.

Question

Quizplus · Accepted Answer

XBRL (eXtensible Business Reporting Language) allows for the electronic communication of business and financial data, which helps organizations move away from proprietary systems designed for specific types of data or reporting. However, it does not eliminate the need for the steps in the accounting cycle, which are fundamental to financial reporting and management.

When Organizations Use XBRL, They Can Free Themselves From