Revisão de CCS 2º Bimestre

What does PECLD (Estimated Loss for Doubtful Liquidation Credit) represent in accounting?

• The total value of all receivables

• An estimate of receivables that may not be received

• The amount of cash on hand

• The value of inventory at cost

Which alternative best describes the main objective of recognizing PECLD in financial statements?

• Increase the reported profit

• Comply with tax legislation

• Present a more realistic value of receivables

• Record all sales as cash sales

Which method is commonly used to calculate PRVRL (Loss for Reduction to Realizable Liquid Value) of inventories?

• Historical cost method

• Lower of cost or net realizable value method

• Replacement cost method

• Fair value method

According to CPC 25, what is a requirement for recognizing a provision for contingent liability?

• The liability is possible but not probable

• The liability is probable and can be reliably estimated

• The liability is remote

• The liability is certain but cannot be estimated

When a company provides services and issues an invoice, which taxes are typically considered in accounting entries in Brazil?

• ISS, PIS, and COFINS

• ICMS, IPI, and IRPJ

• IOF, CSLL, and INSS

• IPTU, IPVA, and ITBI

Which alternative best defines a passive provision according to CPC 25?

• An asset with an uncertain term

• A liability with an uncertain term or value

• A revenue to be received in the future

• An expense already paid

If an entity estimates that R$5,000 of its R$100,000 in accounts receivable may not be received, how should this be reflected in the financial statements?

• Increase accounts receivable by R$5,000

• Recognize a PECLD of R$5,000 as an expense and add a contra asset account

• Ignore the estimate until default occurs

• Record R$5,000 as revenue

Which alternative correctly represents the concept of net realizable value in the context of inventories?

• The acquisition value of inventories, without deductions

• The value at which the inventory can be sold, less estimated selling and finishing costs

• The replacement value of inventory in the market

• The fair value of inventories, not considering additional costs

In the context of revenue recognition for service provision, when should revenue be recognized according to accounting standards?

• When the invoice is issued, regardless of service delivery

• When the service is provided and control is transferred to the customer

• When payment is received, regardless of service delivery

• At the end of the fiscal year

Which alternative best describes the treatment of a provision for a lawsuit that is probable and can be reliably estimated?

• Should not be recognized or disclosed

• Should be recognized as a liability in the financial statements

• Should be recognized as an asset

• Should only be disclosed in explanatory notes