Describe the Three Tiers That the U

question 7

Essay

Describe the three tiers that the U.S.State Department uses to evaluate the world human trafficking situation.Also indicate what types of sanctions Tier 3 countries may receive and give an example of a Tier 3 country.

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Definitions:

Absorption Costing

An accounting method that includes all manufacturing costs, direct and indirect, in the unit cost of a product.

Net Income

The total profit of a company after all expenses and taxes have been deducted from revenue.

Manufacturing Margin

The difference between the sales revenue generated by manufactured goods and the cost of producing those goods, indicating profitability.

Variable Costing

A pricing technique that incorporates solely the variable costs of production—such as raw materials, direct labor, and variable overhead expenses—into the per-unit cost of products.