A Statement of Functional Expenses,which is required for voluntary health and welfare organizations,presents a matrix of expenses classified by function and by object or natural classification.

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This statement is true. The Statement of Functional Expenses is required for voluntary health and welfare organizations and presents expenses classified by function (such as program services, management and general, and fundraising) and by object or natural classification (such as salaries and wages, rent, and supplies).

A Statement of Functional Expenses,which Is Required for Voluntary Health