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    Question

    In the context of filing of financial statements by a company, the term “XBRL” means......................

    A Extensible Business Reporting Language Correct Answer Incorrect Answer
    B Xavier Business Reporting Language Correct Answer Incorrect Answer
    C Extensible Business Rules and Law Correct Answer Incorrect Answer
    D None of these Correct Answer Incorrect Answer

    Solution

    XBRL stands for Extensible Business Reporting Language. It is a standardized and open-source markup language used for the electronic communication of business and financial data. Companies often use XBRL to format their financial statements and other reports for easier sharing, analysis, and regulatory compliance.

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