e-Invoicing Quiz

Test your knowledge on e-invoicing with our e-invoicing quiz.
Click on an answer to reveal if you are right – or not!

  1. Which of the following countries has tax authority legislation in place for electronic invoicing?
    1. France
    2. United Kingdom
    3. Germany
    4. Spain
    5. United States
    6. All of the Above

  3. Which of the following processes guarantee the required authenticity and integrity for electronic invoicing within the European Union?
    1. Email
    2. Electronic Data Interchange (EDI) with proper management controls
    3. Digital signatures

  5. Electronic invoicing programmes are proven to offer compelling savings for companies of any size. On average, my company can expect to save the following:
    1. Between 0.5% and 2% of my annual revenues
    2. Ten per cent of my annual revenues
    3. Eighteen per cent of my annual revenues
    4. Twenty five per cent of my annual revenues

  7. If audited by the local tax authority a company has to provide documentation to support its accounts. If you receive electronic invoices what do you need to prove:
    1. The invoice came from the named supplier
    2. The invoice has not been tampered with or modified in any way
    3. All of the required data fields are on the invoice
    4. The correct tax amounts are shown for each line item
    5. That the process I employ can prove all of the above

  9. Your company uses EDI to send and receive electronic invoices to and from all of your domestic and international customers. Which of the options below gurantees the authenticity and integrity of your EDI invoices?
    1. Print a paper copy of each invoice you send/receive
    2. A properly managed process, including data validation, authenticity & integrity & archiving
    3. Store the paper copy of each invoice you send/receive in an archive

  11. I know that I have to keep a human readable copy of EDI invoices for a certain number of years. Which of the following invoice storage methods are considered to be tax compliant?
    1. Storing paper copies in filing cabinets
    2. Storing EDI invoices in an electronic archive
    3. Storing PDF copies of EDI invoices in an electronic archive
    4. All of the above

  13. When sending/receiving electronic invoices, which of the following optionsshould be your primary concern:
    1. Security of the information
    2. Compliance with local tax authority regulations
    3. Cost savings
    4. All of the above