Question

As per a which principle of accounding closing stock is valued at cost price or at market price whichever is less ??​

Answer 1

Answer:

Soil erosion is the displacement of the upper layer of soil, it is a form of soil degradation. 

Answer 2

Answer:

principle of Conservatism

Closing stock is always valued at cost price or market price which ever is less. It is based on the principle of Conservatism. According to this, all anticipated losses should be recorded in the books of accounts and all the anticipated gains should be ignored.