Mr. Rohit, owner of Rohit Furniture Ltd., owns a personal residence that cost ` 6,00,000, but has a market value of ` 9,00,000. During preparation of the financial statement for the business, the entire value of property was ignored and was not shown in the financial statements. The principle that was followed was

• A. The concept of the Business Entity
• B. The concept of the Cost Principle
• C. The concept of Going Concern Principle
• D. The concept of Duality Principle