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An article in the New York Times noted that that employment in New York City was increasing but so was the city's unemployment rate. The article referred to "the seemingly contradictory message delivered on Thursday in the latest report from the New York State Department of Labor." Why would the reporter consider this message to be contradictory? How do you explain the contradiction?
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Recording Petty Cash Account Transactions. During March, Anderson Company engaged in the following transactions involving its petty cash fund.
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Assuming an income tax rate of 40% for all years, the affect of this accounting change on prior periods should be reported by a credit of what?
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