0.0/1.0 point (graded)

Alfa and Co., manufacturer of jeans has partially completed jeans in the production process. So far the company has spent Rs. 50,000 on this lot. If the company decides to sell these partially completed jeans, they are unlikely to fetch any value. The accountant however valued this work in progress at Rs. 50,000 and shown the same in the balance sheet. Which of the following concept is applied here?

Materiality principle

Going concern principle

Matching principle

Consistency