What Was the Importance of the Examination System in the Song

question 55

Essay

What was the importance of the examination system in the Song period? How did this development bring about stability in the court? Who had the best opportunity to pass the exam?

---

Definitions:

Ending Inventory

The amount of inventory available to be sold by the end of an accounting term.

Lower-of-Cost-or-Market

An accounting principle requiring that inventory be recorded at the lesser of its historical cost or current market value.

Replacement Cost

The current cost of replacing an asset with a new one of similar kind and quality at present market prices.

Unit Cost

The cost incurred to produce, acquire, or distribute one unit of a product or service.