A detailed description of a good financial document filing system and an advantage of buying with a cheque.
A good filing system for financial documents involves organizing papers into categories such as income, expenses, investments, and taxes. Using labeled folders or digital folders with clear file names can help in easy retrieval of information. Regularly updating and reviewing the files is essential for maintaining an effective system.
An advantage of buying with a cheque is that it provides a paper trail for the transaction. This can be useful for record-keeping, budgeting, and tracking expenses. Additionally, using a cheque can offer more security compared to carrying cash.
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