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Chapter 30 – Solutions

Multiple Choice Solutions​

  1. c) Annual accounts must be filed within 7 months of fiscal year end.

  2. b) The three mandatory components are balance sheet, income statement, and notes.

  3. b) The balance sheet threshold for small companies is €4,400,000.

  4. b) An audit is mandatory for companies exceeding 2 of 3 size criteria.

  5. c) Documents must be retained for 10 years from end of fiscal year.

  6. b) The electronic filing platform is eCDF (Electronic Corporate Documents Filing).

  7. c) FAIA format is based on OECD SAF-T (Standard Audit File for Tax).

  8. c) SA (Société Anonyme) always requires an audit.

  9. c) Small companies may prepare either abbreviated or full financial statements.

  10. b) The principle is "true and fair view" (image fidèle).

Note: Complete solutions for Problems Set A, Set B, and Comprehensive Problem are available in the instructor solutions manual.

End of Chapter 30 Solutions