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Questions and Answers
What is the primary purpose of a debit memorandum?
What is the primary purpose of a debit memorandum?
- To request an adjustment of the buyer's account
- To provide proof of a transaction
- To notify the buyer of an account adjustment (correct)
- To inform the buyer of a pending delivery
What is the situation when a debit memorandum is issued?
What is the situation when a debit memorandum is issued?
- When a seller returns merchandise to a buyer
- When a buyer requests an adjustment of their account (correct)
- When a buyer purchases merchandise on account
- When a buyer is notified of an account adjustment
What is the relationship between a debit memorandum and the buyer's account?
What is the relationship between a debit memorandum and the buyer's account?
- The buyer's account is credited
- The buyer's account is frozen
- The buyer's account is debited (correct)
- The buyer's account remains unchanged
What is NOT a characteristic of a debit memorandum?
What is NOT a characteristic of a debit memorandum?
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What is the seller's role in a debit memorandum?
What is the seller's role in a debit memorandum?
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