Which of the following provides the most accurate definition of XBRL? O A universal, worldwide standard for reporting all kinds of financial information within and across organisations A language for financial information fixed by its taxonomy A piece of software used to tag financial information to allow it to be read more easily An add-on to Microsoft Excel which allows financial information to be read by different organisations

Database System Concepts
7th Edition
ISBN:9780078022159
Author:Abraham Silberschatz Professor, Henry F. Korth, S. Sudarshan
Publisher:Abraham Silberschatz Professor, Henry F. Korth, S. Sudarshan
Chapter1: Introduction
Section: Chapter Questions
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Which of the following provides the most accurate definition of XBRL?
O A universal, worldwide standard for reporting all kinds of financial information within and
across organisations
A language for financial information fixed by its taxonomy
A piece of software used to tag financial information to allow it to be read more easily
An add-on to Microsoft Excel which allows financial information to be read by different
organisations
Transcribed Image Text:Which of the following provides the most accurate definition of XBRL? O A universal, worldwide standard for reporting all kinds of financial information within and across organisations A language for financial information fixed by its taxonomy A piece of software used to tag financial information to allow it to be read more easily An add-on to Microsoft Excel which allows financial information to be read by different organisations
Which of the following definitions best describes electronic data interchange
(EDI)?
Use of standard (electronic) forms to share information between departments
O Translation of electronic communications from another organisation
O Computer-to-computer exchange between two organisations of standard transactions
such as invoices
A piece of software used to tag financial information to allow it to be read more easily
Transcribed Image Text:Which of the following definitions best describes electronic data interchange (EDI)? Use of standard (electronic) forms to share information between departments O Translation of electronic communications from another organisation O Computer-to-computer exchange between two organisations of standard transactions such as invoices A piece of software used to tag financial information to allow it to be read more easily
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