ON-THE-JOB TRAINING Definition

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ON-THE-JOB TRAINING (OJT) is training that takes place at the work site, usually supervised by a manager or an experienced coworker.

Learn new Accounting Terms

BASIC TENETS OF ACCOUNTING is four in number: 1. Assets = Liabilities + Owners Equity, 2. Debits = Credits, 3. Assets are on the left (debit side), and, 4. Liabilities and Equity are on the right (credit side).

ACTUAL COST is the amount paid for an asset; not its retail value, market value or insurance value.

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