Lako Systems Invests a Lot into Recruiting New Hires

question 51

Multiple Choice

Lako Systems invests a lot into recruiting new hires. To help reduce their risk of quitting, Lako Systems has a program that helps bring new hires into the organization's fold so that they truly feel as if they are a part of it. This is known as

• A)cross-training.
• B)onboarding.
• C)on-the-job training.
• D)benchmarking.

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Definitions:

Installment Sales Revenue

Income recognized from sales made where payment is received in periodic installments, often used in financing transactions for high-ticket items.

Deferred Gross Profit-Year 1

This refers to the portion of gross profit on sales made in the first year that is not recognized immediately but is deferred to future periods under certain accounting methods.

Realized Gross Profit

The gross income that a company has earned and recognized from its sales or services, after accounting for the cost of goods sold, but before deducting operating expenses.

Installment Sales Revenue

Revenue recognized from sales that are paid in installments over a period, rather than in a single transaction.