In this case, the company 'Caro' used the on-the-job training method for training its drivers. This method involves training employees while they are performing their job tasks, providing practical experience in real-world conditions.
On-the-job training is a type of training that occurs at the workplace. The trainees learn by performing the actual tasks they will be doing in their roles, under the guidance of an experienced supervisor or trainer. This training is practical and relevant because it takes place in the exact environment the trainees will be working in.
The company 'Caro' used this method by providing training to their drivers directly in the cars that they would later drive as part of the car rental service. Two of the available luxury cars were used specifically for this purpose. The training was hands-on, allowing the drivers to familiarize themselves with the cars, which are sophisticated and costly, and to learn how to operate them efficiently without causing unnecessary wear and tear.
The training method used by 'Caro' was on-the-job training, where drivers learned how to operate the luxury cars directly, under the supervision of experienced trainers, which proved to be a highly effective and cost-efficient approach for the company.
Rupal, Shanu and Trisha were partners in a firm sharing profits and losses in the ratio of 4:3:1. Their Balance Sheet as at 31st March, 2024 was as follows:
(i) Trisha's share of profit was entirely taken by Shanu.
(ii) Fixed assets were found to be undervalued by Rs 2,40,000.
(iii) Stock was revalued at Rs 2,00,000.
(iv) Goodwill of the firm was valued at Rs 8,00,000 on Trisha's retirement.
(v) The total capital of the new firm was fixed at Rs 16,00,000 which was adjusted according to the new profit sharing ratio of the partners. For this necessary cash was paid off or brought in by the partners as the case may be.
Prepare Revaluation Account and Partners' Capital Accounts.
On the basis of the following hypothetical data, calculate the percentage change in Real Gross Domestic Product (GDP) in the year 2022 – 23, using 2020 – 21 as the base year.
Year | Nominal GDP | Nominal GDP (Adjusted to Base Year Price) |
2020–21 | 3,000 | 5,000 |
2022–23 | 4,000 | 6,000 |