Business Studies, asked by originalname, 1 year ago

What are reasons for documenting business transactions?

Answers

Answered by dlcg2k
1

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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