What are memos typically used for?

Memos are commonly utilized for internal communication within an organization, especially when conveying sensitive or important information. This format allows for a clear and direct message to be sent to specific individuals or departments without the formality of a letter. Memos can address various topics such as policy updates, meeting announcements, or changes in procedures, and they are designed to ensure that the message reaches the intended audience quickly and effectively.

While memos can also be used to share updates or reports (as might be implied by options like updating financial reports or drafting weekly sales reports), the primary function of a memo is communication. The other choices, such as creating templates for documents, generally fall outside the typical use of a memo, which focuses on conveying messages rather than drafting or designing documents.