Which of the following lists the three memo types processed in AMM?

• A. Debit memos only
• B. Debit memos, credit memos, and recall commission statements
• C. Debit and credit memos only
• D. Invoices, refunds, and credits

Answer: (B)

AMM handles three kinds of account adjustments that flow through its memo processing: debit memos, credit memos, and recall commission statements. Debit memos record amounts the agency owes, increasing the agency’s balance. Credit memos reflect credits due to refunds or overcharges, reducing what’s owed. Recall commission statements are used to retrieve or adjust commissions that were previously paid when a sale is revised or reversed. This combination covers all the typical adjustments AMM processes, making it the best answer. Other options omit one or more of these memo types or include items that aren’t memos, such as invoices or general refunds.