MEMO ENTRY Definition

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MEMO ENTRY is supplemental or explanatory information on a reporting schedule. It is used for clarification of sometimes complex entries.

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COMPLETENESS deals with whether all transactions and accounts that should be in the financial statements are included. For example, management asserts that all purchases of goods and services are included in the financial statements. Similarly, management asserts that notes payable in the balance sheet include all such obligations of the entity.

REACH, in advertising, is the total number of people within a target market that will be reached through an advertising campaign.

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