Very basic beginner Q__edited content moving forward in approval chain

[MRFW]

Newbie Q__

As our documents move forward in the approval chain, they may be edited by each approver and should move forward in the approval chain in their edited form.

What's the easiest approach to handle this scenario?  a folder?  rename the document as it is forwarded, regardless of whether changes are made?  v1. to approver 1; v2 to approver 2. . .

Please advise.

Thanks so much!

MRFW