CFC Exame de Suficiência Practice Questions - CFC Exame de Suficiência em Contabilidade Exam - CFC Exame de Suficiência Practice Questions - CFC Exame de Suficiência em Contabilidade Exam

Question 1

A commercial entity presents 1,000 units of a merchandise in inventory at an acquisition cost of R$ 120.00 per unit. At the end of the reporting period, market conditions changed and the estimated selling price dropped to R$ 130.00 per unit, while estimated selling expenses and freight costs required to complete the sale are estimated at R$ 25.00 per unit. According to NBC TG 16 (R1) / CPC 16 (Estoques), what is the valuation of the inventory on the balance sheet and the impairment impact on profit or loss?

Inventory valued at R$ 120,000.00, with no impairment loss recognized since the selling price (R$ 130.00) exceeds cost. Inventory valued at R$ 105,000.00, with an impairment loss of R$ 15,000.00 recognized in profit or loss. Inventory valued at R$ 130,000.00, with a valuation gain of R$ 10,000.00 recognized in profit or loss. Inventory valued at R$ 95,000.00, with an impairment loss of R$ 25,000.00 recognized in equity.

Correct Answer:

Inventory valued at R$ 105,000.00, with an impairment loss of R$ 15,000.00 recognized in profit or loss.

Question 2

A manufacturing company acquired industrial machinery for its production line. The transaction generated the following disbursements and invoices: Purchase invoice price of R$ 200,000.00 (which includes R$ 36,000.00 of recoverable ICMS tax); Freight to transport the machine to the factory of R$ 8,000.00; Foundation and installation costs of R$ 12,000.00; Operational testing costs before full production of R$ 4,000.00; Training costs for machine operators of R$ 5,000.00; and Advertising costs for the launch event of R$ 3,000.00. In accordance with NBC TG 27 (R4) / CPC 27 (Ativo Imobilizado), what is the initial recognized cost of the machinery?

R$ 224,000.00 R$ 193,000.00 R$ 188,000.00 R$ 164,000.00

Correct Answer:

R$ 188,000.00

Question 3

At the end of the fiscal year, an enterprise conducted an impairment test on a specialized industrial plant in accordance with NBC TG 01 (R1) / CPC 01 (Redução ao Valor Recuperável de Ativos). The accounting records indicate an original cost of R$ 500,000.00 and accumulated depreciation of R$ 140,000.00. An independent valuation determined the fair value less costs of disposal (valor justo líquido de despesas de alienação) to be R$ 330,000.00, while the value in use (valor em uso) calculated via discounted expected future cash flows is R$ 345,000.00. What is the impairment loss to be recognized in profit or loss?

R$ 15,000.00 R$ 30,000.00 R$ 0.00 (No impairment loss is recognized) R$ 155,000.00

Correct Answer:

R$ 15,000.00

Question 4

A legal assessment of three distinct pending lawsuits against a corporate entity revealed the following likelihoods of financial outflow: Lawsuit A: Probable outflow (probabilidade provável) with a reliable estimate of R$ 80,000.00; Lawsuit B: Possible outflow (probabilidade possível) estimated at R$ 50,000.00; Lawsuit C: Remote outflow (probabilidade remota) estimated at R$ 30,000.00. Under NBC TG 25 (R2) / CPC 25 (Provisões, Passivos Contingentes e Ativos Contingentes), how should these events be accounted for and reported in the financial statements?

Recognize provisions for Lawsuit A (R$ 80,000.00) and Lawsuit B (R$ 50,000.00) as liabilities; disclose Lawsuit C in explanatory notes. Disclose all three lawsuits (A, B, and C) exclusively in explanatory notes without recognizing any liability on the Balance Sheet. Recognize a total provision of R$ 160,000.00 encompassing all three lawsuits in the Balance Sheet. Recognize a provision (provisão) of R$ 80,000.00 as a liability in the Balance Sheet with footnote disclosure; disclose Lawsuit B in explanatory notes as a contingent liability (passivo contingente); do not recognize or disclose Lawsuit C.

Correct Answer:

Recognize a provision (provisão) of R$ 80,000.00 as a liability in the Balance Sheet with footnote disclosure; disclose Lawsuit B in explanatory notes as a contingent liability (passivo contingente); do not recognize or disclose Lawsuit C.

Question 5

On January 1, 2026, a company entered into a 5-year non-cancellable lease contract for an administrative building, with annual fixed payments of R$ 60,000.00 due at the end of each year. The present value of the lease payments discounted at the lessee's incremental borrowing rate is R$ 227,450.00. In accordance with NBC TG 06 (R2) / CPC 06 (R2) (Arrendamentos), how should the lessee initially record this transaction?

Debit Operating Rent Expense (Despesa de Aluguel) and Credit Cash/Banks for R$ 60,000.00 annually, with no balance sheet recognition of assets or liabilities. Debit Right-of-Use Asset and Credit Lease Liability for the nominal undiscounted sum of R$ 300,000.00. Debit Right-of-Use Asset (Ativo de Direito de Uso) and Credit Lease Liability (Passivo de Arrendamento) for R$ 227,450.00. Debit Prepaid Expenses in Current Assets and Credit Cash for R$ 227,450.00.

Correct Answer:

Debit Right-of-Use Asset (Ativo de Direito de Uso) and Credit Lease Liability (Passivo de Arrendamento) for R$ 227,450.00.

Question 1

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Prepare with the CFC Exame de Suficiência Practice Questions - CFC Exame de Suficiência em Contabilidade Exam practice quiz. This question bank includes 100 questions covering financial, company, cost, year, and unit. Use it to review important concepts, identify knowledge gaps, and build confidence for the related exam, course, or assessment.

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CFC Exame de Suficiência Practice Questions - CFC Exame de Suficiência em Contabilidade Exam

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