The Leader of the Country Says That She Is Honest

question 37

Multiple Choice

The leader of the country says that she is honest. She also says, "You should believe what I say because I am the head of the nation's government." Which thinking error is the leader making?

• A) Asserting the consequent
• B) Shifting the burden of proof
• C) Circular reasoning
• D) Confirmation bias

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Definitions:

Profit Margin

A financial metric indicating the percentage of revenue that exceeds the costs associated with making or selling products.

Profitability

A financial metric used to assess the ability of a business to generate earnings relative to its revenue, assets, equity, or other financial metrics.

Liquidity

How effortlessly an asset can be turned into cash without altering its market price.

Periodic Inventory System

An inventory accounting system where the inventory level is updated and the cost of goods sold is calculated at the end of a period, rather than after each sale.