Which of the following is an essential step in preparing documents for signature?

Selecting 'Save and Close' is a crucial step in preparing documents for signature as it ensures that all changes and updates made to the document are preserved before finalizing it. This step confirms that the document incorporates all necessary edits, comments, and legal language relevant to the agreement at hand. By saving the document, you mitigate the risk of losing important information and ensure that the document is in its final form for review and signature.

While contacting a notary may be necessary depending on the type of document and legal requirements, it is not universally essential in the document preparation process itself. Reviewing old transactions can provide context or insight, but it does not directly pertain to the immediate act of preparing the current documents for signature. Using paper documents is largely outdated in many workflows, with electronic formats becoming the norm and often preferred for ease of use and storage. Thus, selecting 'Save and Close' solidifies the document's readiness for the next steps in the signing process.