A survey by the SEC of XBRL filers revealed that the additional costs of the requirement averaged between $30,000 and $40,000, but in some cases ran as high as $82,000. However, these costs tended to diminish over time as organizations gained experience with the language and were able to reuse their software. A more recent study by the AICPA found that almost 70% of XBRL-compliant companies paid less than $10,000 to adopt XBRL standards.

Read the above prompt.Which of the following statements is the best conclusion to draw from the information above?

A survey by the SEC of XBRL filers revealed that the additional costs of the requirement averaged between $30,000 and $40,000, but in some cases ran as high as $82,000. However, these costs tended to diminish over time as organizations gained experience with the language and were able to reuse their software. A more recent study by the AICPA found that almost 70% of XBRL-compliant companies paid less than $10,000 to adopt XBRL standards.

Read the above prompt.Which of the following statements is the best conclusion to draw from the information above?

The finding from the AICPA study implies that the SEC was lying about the costs of the requirement to prevent more companies from becoming publicly traded

The costs of the XBRL requirement most likely vary by how large the company is

Although XBRL initial adoption can be costly, the cost incurred by XBRL-compliant companies is unlikely to be as high as it was in the first year of adoption

All of these are equally good conclusions to draw from the information above