Communications technology and the Internet can be used to reduce the time and costs involved in disseminating financial statement information. Users of such financial information still struggle in that many recipients have different information delivery requirements and may have to manually reenter the information into their own decision analysis tools. The ideal solution to solve these problems and efficiently transmit financial information via the Internet is to use

A) HTML code.

B) XML.

C) pdf file.

D) XBRL.

Question

Computers and Technology

Schultz

27 December, 19:08

Communications technology and the Internet can be used to reduce the time and costs involved in disseminating financial statement information. Users of such financial information still struggle in that many recipients have different information delivery requirements and may have to manually reenter the information into their own decision analysis tools. The ideal solution to solve these problems and efficiently transmit financial information via the Internet is to use

A) HTML code.

B) XML.

C) pdf file.

D) XBRL.

+4

Answers (1)

Know the Answer?

Amira Meyers · Answer 1

Answer: D) XBRL (eXtensible Business Reporting Language)

Explanation: XBRL (eXtensible Business Reporting Language) is the type of XML (eXtensible Markup Language) that is used for the improvement in the transparency between the recipient and the business organization regarding the accessibility of the financial information.

The financial data is formatted uniformally so that the user can get the knowledge about the finance through the online sources like internet.

Other options are incorrect because HTML and XML are the markup languages but not for the financial area and PDF file is the file that stores data. Thus correct option is option (D).