Step 1: Understand the statement:
The statement says notes, correspondence and reports on one subject are stored together in one file. We must say if this is true.
Step 2: Recall the meaning of a file:
A file is a folder or cover that holds all papers on one subject, person or transaction. Papers are arranged in order, usually by date.
This keeps related papers together and saves time in finding them.
Step 3: Apply it:
Notes, letters and reports on the same subject belong together. Keeping them in one file gives a complete record of the matter.
Final Answer:
The statement is True.