Question: XBRL touts as its primary advantage that it increases efficiency for the firm and those interested in its business reports. Required: a. How is XBRL

XBRL touts as its primary advantage that it increases efficiency for the firm and those interested in its business reports.

Required:

a. How is XBRL more efficient for the firm that reports its business performance? Does the use XBRL GL in a firm’s accounting software make XBRL more or less efficient than when XBRL GL is not used?

b. How is XBRL more efficient for those using its business reports for regulator, investing or other purposes?

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