CA CPT 2014 June Question Paper Fundamentals of Accounting for online practice

A trader purchased goods for Rs. 25,00,000, of these 70% of goods were sold during the year. At the end of 31stDecember 2009, the market value of such goods were Rs.5,00,000. But the trader recorded in his books forRs.7,50,000. Which of the following concept is violated.