From an accountant's perspective, one of the benefits of XBRL is the ability to obtain more rapid and reliable data and information on company financial performance.Such items would include:
A)General purpose financial statements.
B)Chart of accounts.
C)Both general purpose financial statements and chart of accounts.
D)Neither general purpose financial statements nor chart of accounts.

Question

Quizplus · Accepted Answer

XBRL (eXtensible Business Reporting Language) is primarily used for the electronic communication of business and financial data, which includes general purpose financial statements. It does not typically include the chart of accounts, which is more of an internal accounting tool.

From an Accountant's Perspective, One of the Benefits of XBRL