How does the FASB require not-for-profit organizations to report expenses?

Question

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The Financial Accounting Standards Board (FASB) requires not-for-profit organizations to report expenses by both natural classification (such as salaries, rent, and supplies) and functional classification (such as program services and support services). This dual classification provides a more comprehensive view of how an organization allocates its resources.

How Does the FASB Require Not-For-Profit Organizations to Report Expenses