Chapter: XBRL: Intelligent Business Reporting [Multiple Choice Question; Pick one answer]

1. Which of the following is true?

XBRL provides customization that prohibits data from being shared across different applications and IT platforms.

XBRL does not track data provided in the footnotes to the financial statements.

XBRL provides customization that facilitates data being shared across different applications and IT platforms

XBRL is a paper-based system

2. Which of the following is true?

XBRL tags are read manually by users.

XBRL does not track the data management discussion & analysis section of the financial statements.

EDGAR is planned to replace XBRL in 2015

XBRL tags enable computers to process data intelligently by storing, updating, searching, analyzing, transmitting, and communicating with greater speed standardization & capabilities.

3. Which of the following is true?

XBRL has the ability to tag both numerical & nonnumerical data.

XBRL tags only numerical and data.

XBRL tags nonnumerical data.

The tag used in EDGAR has been done away with in XBRL

4. Which programming language is used for financial reporting around the globe?

XBRL

XML

HTML

STML

5. XBRL is a programming language that is an extension of

HTML

STML

XML

XTML

6. What was XBRL developed to standardize & streamline?

Data Analysis

Financial & business reports

Business Intelligence

Decision making

7. Which of the following provides the most capability for sharing data between applications?

Spreadsheet

Text files

XBRL

HTML