urgent

D Use the following information to answer questions 10 - 11: On March 31, 2021, the board of directors of Carrie Co. authorized and issued its financial statements following IFRS for the year ended December 31, 2020. On March 15, 2021, Carrie Co. determined after negotiations with the Canada Revenue Agency, that income tax payable for 2020 should be $400,000. At December 31, 2020, 90 income tax payable was recorded at $30,000 91 92 (10). This event is an example of a(n): 93 A. Subsequent event. 94 B. Change in accounting estimate. 95 C Accounting error. 96 D. Change in accounting policy. 97 #10 Answer 98 1111. How should this event be accounted for hv Carrie Co.? = A Cover Sheet Q1 Q2 Q3 PARTA Q3 PART B Q4 Q5 Q6 + 30 WIU w 98 99 (11). How should this event be accounted for by Carrie Co.? TOO A Disclose in notes only. 101 B. Adjust current year (December 31, 2020 year-end). 102 C. Adjust prospectively by recording the adjustment in March 2021 (December 31, 2021 year-end). 103 D. Adjust retrospectively by adjusting opening retained earnings (January 1, 2020). 04 #11 Answer 55 END OF QUESTION 1 111 A Cover Sheet 01 02 Q3 PARTA Q3 PART B 04 05 Q6+ son Mode: Automatic Workbook Statistics (7). Considering the results of a statement of cash flows, which of the following statements identifies a financially strong company? A. One where there is a cash outflow from operating activities. B. One were there is a large cash inflow from debt financing to provide cash. C. One where cash flow from operating activities exceeds that from investing activities and financing activities. D. One were significant valued long-term assets are sold to provide cash. #7