In Direct Contradiction to the Teachings of Mencius, Xunzi Contended

question 24

Multiple Choice

In direct contradiction to the teachings of Mencius, Xunzi contended that people are basically

• A) good at heart.
• B) evil in nature.
• C) dishonest.
• D) heretics.

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Definitions:

Merchandise Cost

Merchandise cost is the total expense incurred to purchase goods for resale, including the purchase price, shipping, handling, and import duties.

Gross Profit Method

A technique to estimate the amount of ending inventory and cost of goods sold by using the gross profit margin.

Gross Margin Ratio

A financial metric showing the percentage of revenue that exceeds the cost of goods sold, indicating the efficiency of a company in managing its production costs.

Ending Inventory

The entire value of commodities prepared for sales at the finale of an accounting timeline.