What are reasons for documenting business transactions?
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Answer:
It is important to have a physical record of business transactions to reference later.
Explanation:
For example, a home sale is documented by a deed. This can be referenced generations later. This can provide valuable information on an area's demographics, a family's inheritence, or a property's historic significance. Other business transactions use documents to prove ownership (car title), repayment agreements (credit cards), etc... Contracts also document business transactions and outline legal recourse for any person involved.
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