Multiple Choice
Which of the following statements relating to XBRL and industry-accepted standards is incorrect?
A) There is only one version of XBRL.
B) There is much competition between XBRL standards.
C) XBRL standards have the support of the international and national accounting bodies.
D) Once XBRL standards are defined, they can be applied to different industries through the creation of different taxonomies.
Correct Answer:
Verified
Correct Answer:
Verified
Q21: Key business processes supported by ERP systems
Q22: What is the main advantage of the
Q23: An instance document:<br>A) contains information about the
Q24: How does XBRL contribute towards reduced data
Q25: The XBRL tags in an accounting package
Q27: The major benefit of XBRL is:<br>A) it
Q28: Taxonomies are the:<br>A) set of tags developed
Q29: Describe the five core modules of the
Q30: How may 'blockchain' impact on accounting as
Q31: A distributed decentralised ledger which records digital