A formula field is a type of field that calculates a value based on an expression or formula that references other fields or constants. For example, a formula field can display today's date by using the TODAY() function. In this case, the administrator can create a formula field on the account object that updates the audited date field with today's date when the status of the account is changed to 'Audited'. Reference: https://help.salesforce.com/s/articleView?id=sf.fields_about_formulas.htm&type=5

Account teams are groups of users who work together on an account. You can enable account teams in Setup and assign team roles and access levels for each team member. Users can set up a default account team that is automatically added to any account that they own or create. This makes it easier for teams to collaborate with the same customer without manually sharing each account. Reference: https://help.salesforce.com/s/articleView?id=sf.accountteam.htm&type=5 https://help.salesforce.com/s/articleView?id=sf.accountteam_default.htm&type=5

To identify new leads entered by interns from existing leads, the administrator should define a record type and assign it to the interns. This will allow them to select a different record type when creating leads, and distinguish them from other leads based on record type. Creating a separate Lead Lightning App or updating the active Lead Assignment Rules will not affect lead identification. Setting up Web-to-Lead form will not work if the interns are entering leads manually in Salesforce. Reference: https://help.salesforce.com/s/articleView?id=sf.customize_recordtype.htm&type=5

To free up user licenses for new users, the administrator should deactivate the former employees user record. This will prevent them from logging in and using Salesforce resources, but preserve their historical activities and data. Deleting or freezing user records will not release user licenses. Reference: https://help.salesforce.com/s/articleView?id=sf.admin_usermgmt_licensing.htm&type=5

Standard objects are objects that are included with Salesforce by default, such as Account, Contact, Lead, Opportunity, etc. They have predefined fields and functionality that support common business processes. Custom objects are objects that you create to store information that is specific to your organization or industry. You can create new standard objects using the Object Manager in Setup. Reference: https://trailhead.salesforce.com/en/content/learn/modules/data_modeling/standard_and_custom_objects