What Is a Credit Memo

question 33

Multiple Choice

What is a credit memo?

• A)A form stating the particulars of a credit to accounts receivable, including the specific items returned, prices, and amount credited to a customer's account
• B)A document used to record adjustments such as a provision for bad debt expense or an accounts receivable write-off in the general ledger
• C)A report prepared on the receipt of goods from customers showing the kinds and quantities of goods received
• D)A form showing the description, quantity, and other data pertaining to goods the customer is authorized to return

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Definitions:

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A state of flourishing, success, or good fortune, particularly in terms of financial or material wealth.