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Chapter 31 – Exercises & Cases

Multiple Choice Questions​

  1. E-invoices must ensure: a) Only authenticity b) Only integrity c) Both authenticity and integrity d) Neither authenticity nor integrity Answer: c) E-invoices must ensure both authenticity and integrity.

  2. Fiscal cash registers are mandatory for: a) All businesses b) Only large businesses c) Retail and hospitality sectors d) Only manufacturing businesses Answer: c) Fiscal cash registers are mandatory for retail and hospitality sectors.

  3. UBL stands for: a) Universal Business Language b) Unified Business Language c) Universal Billing Language d) Unified Billing Language Answer: a) UBL stands for Universal Business Language.

  4. FAIA format is based on: a) IFRS standards b) LUX GAAP c) OECD SAF-T d) EU directives Answer: c) FAIA format is based on OECD SAF-T (Standard Audit File for Tax).

  5. E-invoices must be stored for: a) 5 years b) 7 years c) 10 years d) 15 years Answer: c) E-invoices must be stored for 10 years.

  6. Peppol is: a) Only a format b) Only a network c) Both a format and a network d) Neither a format nor a network Answer: c) Peppol is both a format (Peppol BIS) and a network.

  7. Fiscal cash registers must be: a) Any cash register b) Certified by Luxembourg authorities c) Only electronic d) Only for large businesses Answer: b) Fiscal cash registers must be certified by Luxembourg authorities.

  8. CSV format is: a) XML-based b) Text-based c) Binary format d) Proprietary format Answer: b) CSV format is text-based (comma-separated values).

  9. Data export/import is essential for: a) Only data migration b) Only reporting c) Data migration, reporting, and analysis d) Only compliance Answer: c) Data export/import is essential for data migration, reporting, and analysis.

  10. Software integration helps: a) Only reduce errors b) Only save time c) Reduce errors, save time, and improve accuracy d) Only improve compliance Answer: c) Software integration helps reduce errors, save time, and improve accuracy.

Questions​

  1. Explain the e-invoicing legal framework in Luxembourg. What are the key requirements?

  2. What are fiscal cash register requirements? Which sectors are affected?

  3. Compare UBL and Peppol formats. What are the differences and when should each be used?

  4. What is FAIA format? When is it required and what does it contain?

  5. Explain the importance of data export and import capabilities. What formats are commonly used?

  6. How does software integration improve digital compliance? What are the benefits?

  7. What are compliance best practices for e-invoicing? How can businesses ensure ongoing compliance?

  8. What are the requirements for fiscal cash registers? What features must they have?

  9. Explain the FAIA file structure. What information must it contain?

  10. How can businesses prepare for digital compliance requirements? What steps should they take?

Note: Complete solutions are available in the solutions manual.

End of Chapter 31 Exercises