Under FAS 117, only voluntary health and welfare organizations must show expenses by function in the statement of activities.

Name: Under FAS 117, only voluntary health and welfare organizations must show expenses by function in the statement of activities.
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FAS 117, known as ASC 958 for Not-for-Profit Entities, requires all not-for-profit organizations, not just voluntary health and welfare organizations, to report expenses by function in their statement of activities.

Under FAS 117, Only Voluntary Health and Welfare Organizations Must