IMCP / CENEVAL Examen Uniforme de Certificación de la Contaduría Pública (EUC-CP)

Under the NIF conceptual framework (NIF A-1), which basic postulate (postulado básico) assumes that the entity will continue operating for the foreseeable future, so that its assets and liabilities are valued on that basis rather than at liquidation values?

• AEntidad económica
• BNegocio en marcha
• CDevengación contable
• DDualidad económica

Under the postulado básico of asociación de costos y gastos con ingresos, when are the costs and expenses incurred to generate revenue recognized in profit or loss?

• AWhen they are paid in cash
• BWhen the tax authority allows them as deductions
• CIn the same period in which the revenue they helped generate is recognized
• DOnly at the end of the entity's life, when all revenue has been earned

In December 2025 a manufacturer receives a non-refundable advance of MXN 1,000,000 (40% of the price) for machinery it will deliver in March 2026. How is the advance presented on 31 December 2025 under NIF D-1?

• AAs revenue for 2025, because the cash is non-refundable
• BAs a contract liability (anticipo de clientes)
• CAs a direct credit to retained earnings
• DAs an item of other comprehensive income until delivery

Under NIF B-2, which transaction is excluded from the body of the statement of cash flows and disclosed instead in the notes?

• ACash paid to buy equipment with funds from operations
• BMachinery acquired under a lease, with no cash paid at the start
• CCash collected from customers whose receivables had been impaired
• DEmployee profit sharing (PTU) paid in cash during the year

A company reports profit of MXN 1,200,000, depreciation of MXN 250,000, an increase in receivables of MXN 120,000, a decrease in inventories of MXN 80,000 and an increase in payables of MXN 150,000. Ignoring taxes and interest, what is operating cash flow under the indirect method of NIF B-2?

• AMXN 1,480,000
• BMXN 1,260,000
• CMXN 1,680,000
• DMXN 1,560,000

Under NIF B-3, how is other comprehensive income (otro resultado integral, ORI) presented?

• ACombined with gross profit and presented before operating income in the income statement
• BAfter net income, separating items that will be recycled from those that will not
• COnly in the retained earnings column of the statement of changes in equity
• DAs ordinary operating items that management chooses to exclude from EBITDA

Under NIF B-8, what determines whether an entity must consolidate an investee?

• AOwning more than 50% of the voting shares, even without power over decisions
• BControl: power over relevant activities, exposure to variable returns, and ability to aff…
• CSignificant influence through board seats and 20% to 50% of the voting rights
• DJoint control of decisions that require the unanimous consent of the parties

Under NIF B-10, when is an economic environment inflationary?

• AWhen annual inflation exceeds 10% in any quarter
• BWhen cumulative inflation over the three preceding years is 26% or more
• CWhen cumulative inflation over five years exceeds 50%
• DWhen the minimum wage rises faster than Banco de México's inflation target

In an inflationary environment, an entity's average monetary assets were MXN 2,000,000 and its average monetary liabilities MXN 3,500,000. Inflation for the year was 6.0%. What is its REPOMO?

• AA loss of MXN 90,000 in the RIF
• BA loss of MXN 210,000 in equity
• CA gain of MXN 120,000 in operating income
• DA gain of MXN 90,000 in the RIF

Under NIF C-1, how is a bank overdraft presented when the entity has no legal right to offset it against other balances at the same bank?

• AOffset against positive balances at other banks, within current assets
• BAs a short-term liability
• CAs a deduction from stockholders' equity
• DAs a non-current deferred charge

A company holds bonds under a business model whose objective is only to collect contractual payments of principal and interest. How are they classified and measured under the NIF?

• AAs negotiable instruments (IFN), at fair value through profit or loss
• BAs instruments held to collect or sell (IFCV), at fair value through ORI
• CAs IFCPI under NIF C-20, at amortized cost with the effective interest method
• DAt historical purchase cost, without accruing interest until it is collected

Under NIF C-3 and NIF C-16, how is the allowance for doubtful trade receivables determined?

• AOnly after a default event, such as the customer's bankruptcy, has already occurred
• BBy estimating expected credit losses from experience, current conditions and forecasts
• CAt the percentage of credit sales that the Ley del ISR allows as a deduction
• DBy cancelling the unpaid invoices against the year's sales at the close

Which cost formula for inventories is not permitted under NIF C-4?

• AWeighted average cost (costo promedio)
• BFirst in, first out (PEPS)
• CLast in, first out (UEPS)
• DSpecific identification of cost

Inventory cost is MXN 500,000. The estimated selling price is MXN 540,000, with MXN 40,000 of costs to complete and MXN 60,000 of selling costs. What does NIF C-4 require?

• AA write-down of MXN 60,000, to a net realizable value of MXN 440,000
• BNo write-down, because the MXN 540,000 selling price exceeds the MXN 500,000 cost
• CA write-down of MXN 100,000, carrying the inventory at MXN 400,000
• DA gain of MXN 40,000 recognized in operating income for the period

Under NIF C-6, how is an asset with significant components of different useful lives depreciated?

• AAs a single asset, at the maximum rate allowed by the Ley del ISR
• BEach significant component separately, over its own useful life
• CBy expensing secondary components on acquisition
• DAs a single asset, over the life of its longest-lived component

Equipment costs MXN 3,000,000, plus MXN 200,000 of freight and installation and MXN 100,000 for the present value of the obligation to dismantle it: MXN 3,300,000 in total. Component A (40% of cost) lasts 5 years; component B (60%) lasts 15 years. With no residual value and straight-line depreciation, what is first-year depreciation?

• AMXN 220,000
• BMXN 360,000
• CMXN 330,000
• DMXN 396,000

Under NIF C-9, which conditions must all be met to recognize a provision?

• AA possible future obligation, a possible outflow of resources and approval by the board
• BA present obligation from past events, a probable outflow and a reliable estimate
• CA notarized contract, cash available to settle it and deductibility under the Ley del ISR
• DA past obligation, a remote likelihood of payment and a valuation by an expert

A dismantling provision is initially recognized at MXN 340,292, the present value of MXN 500,000 payable in 5 years at 8%. What finance cost is recognized in Year 1 for the unwinding of the discount?

• AMXN 27,223
• BMXN 40,000
• CMXN 31,942
• DMXN 367,515

Under Article 20 of the Ley General de Sociedades Mercantiles, what must a sociedad anónima set aside each year from its net profits?

• AAt least 10% of gross profit, until the reserve reaches 50% of total assets
• BAn amount the comisario decides each year according to the company's results
• C15% of operating cash flow, deposited in a trust account for creditors
• DAt least 5% of net profit, until the legal reserve equals 20% of capital

Under NIF D-3, how may remeasurements of the net defined benefit liability (for example actuarial gains and losses) be recognized?

• AOnly in profit or loss, within operating expenses, in the period in which they arise
• BOnly in ORI, never recycled to profit or loss, exactly as under IAS 19
• CIn ORI and recycled over the average remaining working life, or directly in profit or loss
• DDeferred as an intangible asset and amortized over the employees' remaining service

At the start of 2025 a pension plan has a defined benefit obligation of MXN 2,000,000 and plan assets of MXN 1,500,000. The discount rate is 7% and current service cost is MXN 120,000. What is the defined benefit cost recognized in profit or loss for 2025 under NIF D-3?

• AMXN 260,000
• BMXN 120,000
• CMXN 155,000
• DMXN 190,000

Which method does NIF D-4 require for deferred taxes, and what is a deductible temporary difference?

• AThe income statement deferral method; it arises when accounting revenue exceeds taxable r…
• BThe asset and liability method; it will produce deductible amounts in future periods
• CThe cash method; it arises when an expense is paid but not yet recognized in the books
• DThe rate reconciliation method; it arises from permanent differences such as exempt income

Fixed assets have a carrying amount of MXN 1,800,000 and a tax value of MXN 1,200,000. A warranty provision of MXN 200,000 is deductible only when paid. The tax rate is 30%, and the balances relate to the same tax authority. What net deferred tax is presented?

• AA net deferred tax asset of MXN 180,000
• BA liability of MXN 180,000 and an asset of MXN 60,000, presented separately
• CA net deferred tax liability of MXN 240,000
• DA net deferred tax liability of MXN 120,000

Under NIF D-5, how does a lessee account for a 4-year non-cancellable warehouse lease with monthly payments of MXN 50,000?

• AAs monthly rent expense only, with no asset or liability on the balance sheet
• BAs a right-of-use asset and a lease liability at present value
• CAs an intangible asset for the undiscounted MXN 2,400,000 of total payments
• DAs a contingent liability disclosed in the notes to the financial statements

What is the key difference between absorption costing (costeo absorbente) and direct costing (costeo directo) in the treatment of fixed manufacturing overhead?

• AAbsorption costing inventories it; direct costing expenses it in the period
• BAbsorption costing expenses direct labor, while direct costing capitalizes it in inventory
• CDirect costing is the method required for external reporting under NIF C-4
• DAbsorption costing excludes direct materials from the cost of work in process

A company produces 10,000 units and sells 8,000 at MXN 100. Variable manufacturing cost is MXN 40 per unit, fixed manufacturing overhead is MXN 200,000 (MXN 20 per unit), and fixed selling and administrative costs are MXN 100,000. How does operating income compare under the two methods?

• ADirect costing is MXN 40,000 higher (220,000 vs 180,000)
• BThey are equal at MXN 180,000
• CAbsorption costing is MXN 40,000 higher (220,000 vs 180,000)
• DAbsorption costing is MXN 80,000 higher

The standard is 2.0 kg of material per unit at MXN 50 per kg. 5,000 units were produced using 10,500 kg bought at MXN 48 per kg. What are the material price and quantity variances?

• APrice MXN 21,000 unfavorable; quantity MXN 25,000 favorable
• BPrice MXN 10,000 favorable; quantity MXN 24,000 unfavorable
• CPrice MXN 20,000 favorable; quantity MXN 20,000 unfavorable
• DPrice MXN 21,000 favorable; quantity MXN 25,000 unfavorable

The labor standard is 1.5 hours per unit at MXN 80 per hour. 4,000 units were produced in 5,800 hours at MXN 84 per hour. What are the labor rate and efficiency variances?

• ARate MXN 23,200 favorable; efficiency MXN 16,000 unfavorable
• BRate MXN 23,200 unfavorable; efficiency MXN 16,000 favorable
• CRate MXN 24,000 unfavorable; efficiency MXN 16,800 favorable
• DRate MXN 16,000 unfavorable; efficiency MXN 23,200 favorable

A valve sells for MXN 250, its variable cost is MXN 150 and fixed costs are MXN 800,000 a year. What is the break-even point?

• A5,333 units and MXN 1,333,250
• B8,000 units and MXN 2,000,000
• C10,000 units and MXN 2,500,000
• D3,200 units and MXN 800,000

Into which three factors does the DuPont model break down return on equity?

• AGross margin, quick ratio and price-to-earnings ratio
• BOperating cash flow, working capital ratio and debt-to-equity ratio
• CEBITDA margin, cash conversion and payout ratio
• DNet margin, asset turnover and equity multiplier

A company has inventory days of 65, collection days of 45 and supplier payment days of 50. What is its cash conversion cycle?

• A160 days
• B60 days
• C70 days
• D30 days

A company is financed 40% with debt at 10% before tax and 60% with equity costing 15%. The tax rate is 30%. What is its weighted average cost of capital?

• A13.00%
• B10.30%
• C11.80%
• D11.00%

A project costs MXN 1,000,000 and returns MXN 400,000, MXN 500,000 and MXN 500,000 in Years 1 to 3. At 12%, what is its net present value (VPN) and the decision?

• A+MXN 400,000; accept, based on the undiscounted surplus
• B-MXN 30,093; reject
• C+MXN 195,955; accept
• D+MXN 111,630; accept

When NPV and IRR rank two mutually exclusive projects differently, which criterion should prevail, and why?

• AIRR, because percentage returns are always more informative than peso amounts
• BThe project with the shortest payback period, regardless of NPV or IRR
• CNPV, because it measures value added and uses the cost of capital as reinvestment rate
• DNeither one; both projects must be rejected until the two criteria agree

A company's degree of operating leverage is 3.0 and its degree of financial leverage is 1.4. If sales fall 5%, how much should earnings per share change?

• A-15.0%
• B-7.0%
• C-21.0%
• D-4.2%

Under Article 17 of the Ley del ISR, when does a company (persona moral in Title II) obtain accruable income from selling goods or providing services?

• AAt the earliest of CFDI, delivery, or collection of all or part of the price
• BOnly when the cash is received in the company's bank account, as for individuals
• CWhen the shareholders' meeting approves the year's audited financial statements
• DWhen the customer signs an acceptance letter and the warranty period has ended

Under Article 28, fraction XXX, of the Ley del ISR, how much of the payments that are exempt income for workers (such as exempt parts of aguinaldo, prima vacacional or previsión social) may the employer deduct?

• A100% of those payments, with no statutory limit on the deduction
• BNone of those payments, in any circumstances
• C47%, or 53% if the benefits were not reduced from the prior year
• DUp to 10% of the company's total taxable revenue for the year

A company's average debts for the year were MXN 5,000,000 and its average credits MXN 3,000,000. The annual adjustment factor is 0.0520. What is its annual inflation adjustment under Article 44 of the Ley del ISR?

• AMXN 104,000 deductible
• BMXN 260,000 accruable
• CMXN 156,000 deductible
• DMXN 104,000 accruable

A manufacturer has opening inventory of MXN 800,000, raw material purchases of MXN 2,500,000, direct labor of MXN 700,000, indirect costs of MXN 400,000 and closing inventory of MXN 900,000. What is its deductible cost of sales under Article 39 of the Ley del ISR?

• AMXN 3,500,000
• BMXN 3,700,000
• CMXN 3,600,000
• DMXN 2,500,000

Machinery bought in February 2024 for MXN 1,200,000 is used all of 2025. Assume an annual deduction rate of 10%. The INPC for June 2025 is 135.0000 and for February 2024 is 125.0000. What is the updated deduction for 2025 under Article 31 of the Ley del ISR?

• AMXN 120,000
• BMXN 111,111
• CMXN 129,600
• DMXN 144,000

For 2024 a company had taxable profit of MXN 2,400,000 and nominal revenue of MXN 40,000,000. Its cumulative nominal revenue from January to April 2025 is MXN 15,000,000. What are its profit coefficient and the April provisional payment base?

• ACoefficient 0.0600; base MXN 900,000
• BCoefficient 0.0600; base MXN 2,400,000
• CCoefficient 0.0600; base MXN 270,000
• DCoefficient 0.0800; base MXN 1,200,000

A company had a tax loss of MXN 600,000 in 2023. The factor from July to December 2023 is 1.0250, giving MXN 615,000. It will apply the loss in 2025. Under Article 57 of the Ley del ISR, which factor is used next, and what is the updated loss if that factor is 1.1000?

• AINPC June 2025 / INPC July 2023, applied to the nominal loss; MXN 660,000
• BNo further update is allowed after the first one; MXN 615,000
• CINPC December 2025 / INPC July 2023, applied without the first update; MXN 600,000
• DINPC June 2025 / INPC December 2023; MXN 676,500

Under Article 77 of the Ley del ISR, how is the utilidad fiscal neta (UFIN) for the year that is added to the CUFIN calculated?

• AResultado fiscal minus ISR paid, Article 28 non-deductibles and PTU
• BRevenue for the year minus the accounting cost of sales
• CAccounting profit before income taxes multiplied by the 30% rate
• DTotal bank deposits for the year minus total checks and transfers issued

A company with a CUFIN balance of zero pays a cash dividend of MXN 1,000,000. What corporate ISR does it pay under Article 10 of the Ley del ISR?

• ANo corporate tax; dividends are taxed only at the shareholder level
• BMXN 300,000, applying 30% directly
• CMXN 428,580, grossing up the dividend by 1.4286 and applying 30%
• DMXN 300,000, with a gross-up factor of 1.3000

What is the main tax purpose of the cuenta de capital de aportación (CUCA) under Article 78 of the Ley del ISR?

• ATo record the government grants the company receives
• BTo calculate the thin-capitalization limit on interest deductions
• CTo calculate the profit coefficient used for monthly provisional payments
• DTo tax the part of a capital refund that exceeds contributed capital

Under Article 151 of the Ley del ISR, what overall limit applies to an individual's personal deductions (such as medical fees and mortgage interest)?

• AThe lesser of five annual UMA and 15% of total income
• BA fixed cap of MXN 1,000,000 a year for all personal deductions
• C10% of the taxpayer's net taxable income for the year
• DNo limit, provided every deduction is paid by bank transfer

What are the main features of the Régimen Simplificado de Confianza (RESICO) for individuals under Articles 113-E to 113-J of the Ley del ISR?

• ARevenue up to MXN 10,000,000, with a 5% rate on profit after deducting expenses
• BNo revenue limit, with 10% withheld by companies and rates of up to 35%
• CUp to MXN 3.5 million; 1.00%-2.50% on gross income; companies withhold 1.25%
• DAvailable only to companies with fewer than five employees, at a 16% rate