Finance Week 8 P2 Explore

What is the primary purpose of an organized system of financial records?

• Handling daily business activities

• Making effective investment decisions

• Determining available resources for spending

• All of the above

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Where should important financial records and valuable articles be kept for maximum security?

• Home file

• Safe deposit box

• Computer system

• Online storage

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How long should federal tax documents be kept according to the passage?

• 1 year

• 3 years

• 6 years

• Indefinitely

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What is the recommended location for keeping records for current needs and documents with limited value?

• Safe deposit box

• Home file

• Online system

• Financial institution

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Records such as birth certificates and wills should be kept ___

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The passage mentions that financial records can be organized into ___ categories.

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Documents related to the purchase and sale of real estate should be kept ___

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