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Describe the difference between a bond issued as a high-yield bond and one that has become a "fallen angel."
Equipment Breakdown
The failure or malfunction of machinery or equipment, interrupting regular operations.
On-costs
Additional costs beyond basic salaries that include items like payroll taxes, superannuation, and workers' compensation.
Direct Labour
The wages paid to workers directly involved in producing goods or providing services.
Indirect Labour
Labor costs associated with tasks that do not directly contribute to the production of goods or services but are necessary for the operation.
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