A nongovernmental not-for-profit entity (nfp) must report information about expenses by Functional Natural.
What is the working of the nongovernmental not-for-profit entity?
All nonprofit organizations in the United States are now required to disclose their expenses in accordance with their functional classification and by the natural classification in order to comply with Financial Accounting Standards Board rules.
It follows that expenses must be reported by both functional and natural class in financial statements created by voluntary health and welfare nongovernmental nonprofit organizations.
Thus, not-for-profit entity must report information about expenses by Functional Natural.
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