Question

What is the purpose of a text box in a formal business document?

Answer 1

Text boxes can contain many different types of elements and are handy when you need to insert information in a specific place.  

Answer 2

Answer and explanation:

In a formal document, a text box can be useful to point out information that may be of interest to the reader or to give brief disambiguation over a term or topic that could be unclear at first read. A text box can be added from the "Insert" tab on Microsoft Office Word.