MEMORANDUM FOR RECORD Definition

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MEMORANDUM FOR RECORD (MR) is an in-house memo covering information that would otherwise not be recorded in writing.

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PERIOD COST is an expense that is not inventoriable; it is charged against sales revenues in the period in which the revenue is earned (e.g., SG&A is a period cost). Also called period expense.

BPO, dependent upon usage, could mean Business Process Outsourcing, Business Process Optimization, Blanket Purchase Order, Broker Price Opinions, Business Process Object, or Bank Payment Order.

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