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Question 1: (20 marks) XBRL (extensible Business Reporting Language) and is based on the XML language (Extensible Markup Language), is specifically designed to electronically communicate

Question 1: (20 marks) XBRL (extensible Business Reporting Language) and is based on the XML language (Extensible Markup Language), is specifically designed to electronically communicate business information and is used to facilitate business reporting of financial and nonfinancial data. Explain how XBRL works and how it makes business reporting more efficient

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