CREDIT MEMO Definition

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CREDIT MEMO is a document used to issue a vendor credit.

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UNEXPIRED means not having come to an end or been terminated by the passage of time.

CONTINUING ACCOUNTING SIGNIFICANCE means matters normally included in the permanent audit documentation, such as the analysis of balance sheet accounts, and those relating to contingencies. Such information from a prior year is used by the auditor in the current year's audit and is updated each year.

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