Lift-cam Inc. has an immediate need for accountants and does not have sufficient funds to invest in training. Hence, hiring for best existing qualifications, rather than the best person, should be preferred.

Training Funds

Financial resources allocated specifically for the purpose of education and training of personnel to improve skills and competencies.

Best Existing Qualifications

Refers to the highest level of education, skills, and experience that current candidates possess for a job or position.