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What benefits are to be achieved by requiring companies to

Question: 1) What benefits are to be achieved by requiring companies to use XBRL for submission of their financial reporting? What are the downsides?

2) Will competitors be able to access too much competitive information using XBRL? Or will this make companies operate more efficiently?

Please answer this 2 questions. Please provide work citation and the response should be at least 1 page per question.

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