Document versioning when document lives in multiple folders.

I have a quick question before purchasing this. Can one document exist in multiple folders? I saw from the demo that I could copy documents into multiple folders but was unsure about versioning. I am looking to have one document potentially in multiple folders and when I update that document, I want it to update in all of the folders that it is in. Please let me know if that makes sense or if I can be more clear.

Thanks,
Michael