You may rely on Microsoft Word to prepare business correspondence, lay out documents such as annual reports or create marketing materials, but Word also operates as a catch-all for existing documents.
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In Microsoft Word, templates are pre-designed documents that you or someone else (such as Microsoft) creates to use as a pattern for a project. The template could be for a business card, brochure, ...
You can open or import a surprising number of file formats into Microsoft Word. Not to be confused with file formatting, which—in most programs—refers to the design of a page, file formats are little ...