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Kids Are Wonderful Foundation, a nongovernmental not-for-profit agency, receives free electricity on a continuous basis from a local utility company. The utility companys contribution is
Kids Are Wonderful Foundation, a nongovernmental not-for-profit agency, receives free electricity on a continuous basis from a local utility company. The utility companys contribution is made subject to cancellation by the donor. Kids Are Wonderful should account for this contribution as a(n) A. Unrestricted revenue and an expense. B. Unrestricted revenue only. C. Restricted revenue only. D. Restricted revenue and an expense.
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