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Question 15 Which of the following statements is false ? XBRL uses a taxonomy to help define and describe each key data element, but it

Question 15

Which of the following statements is false?

XBRL uses a taxonomy to help define and describe each key data element, but it is not capable of defining relationships between each element

Firms can make their own tags if they feel their financial data item does not fit within the existing framework

Sometimes very similar financial data items have unique tags, making direct comparisons between companies difficult

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