Out of the following statements, which one is correct about training?

The correct answer is option 4- All of the above.

The benefits of training and development to an organisation are as follows:
(i) Training is a systematic learning, always better than hit and trial methods which lead to wastage of efforts and money.
(ii) It enhances employee productivity both in terms of quantity and quality, leading to higher profits.
(iii) Training equips the future manager who can take over in case of emergency.
(iv) Training increases employee morale and reduces absenteeism and employee turnover.
(v) It helps in obtaining effective response to fast changing environment – technological and economic.