Multiple choice questions This series of questions deals

with XBRL s #1122

Multiple choice questions. This series of questions deals with XBRL’s Global Ledger taxonomy.
Before attempting to answer them, point your Web browser to www.xbrl.org. Locate the slide
presentation on “Key Features of XBRL-GL.” Reference it as you respond to these questions.1.
XBRL-GL follows information:a. From an initial transaction directly to financial reporting. b. From
operational systems to transaction recording. c. From initial transaction through operational
systems to reporting. d. From a taxonomy to a namespace. 2. How does XBRL-GL relate to tax
filings?a. It provides supporting data to substantiate the filing. b. It eliminates the need for tax
software like Turbo Tax. c. It ensures error-free tax reporting. d. All of the above. 3. Operational
systems that tie into an organization’s general ledger include all of the following except:a.
Project accounting. b. View-driven AIS. c. Accounts payable. d. Fixed assets. 4. The URL
gl.iphix.net presents:a. The global ledger taxonomy specifications. b. Instructions for extending
the global ledger taxonomy. c. A summary of how operational systems feed into the general
ledger. d. Material to help people learn more about XBRL-GL. 5. Which of the following
statements is most true?a. XBRL cannot be adapted for use in filing tax returns. b. XBRL
without XBRL-GL does not go deep enough to support tax audit processes. c. XBRL-GL is
unrelated to SOX and IFRS recordkeeping .d. All of the above statements are true.View
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Multiple choice questions This series of questions deals with XBRL s

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