Which is the correct definition of formal documents?

The definition that formal documents are essential for official communication and factual reporting is accurate because formal documents serve a specific purpose in professional and organizational contexts. They are crafted to convey information clearly and objectively, often adhering to specific formats or standards. These documents include reports, proposals, contracts, and memos, among others, and are designed to ensure that the content is taken seriously, maintains professionalism, and provides verifiable information that can be referenced in the future.

In contrast to this correct definition, the other options describe characteristics that do not align with the nature of formal documents. Personal opinions and feedback, as suggested in one option, are typically found in less formal communications or subjective writing. The idea that formal documents should always be informal and conversational contradicts their purpose and the level of professionalism required. Lastly, stating that formal documents are limited to financial disclosures incorrectly restricts their scope, as they encompass a much broader range of content beyond just financial matters.