ACC4250 (F)/Page 6 of 6 Question 6 Part A Consider the following situations. In each case, do we have an asset or liability within the definitions given by the Conceptual Framework? Giv ons for your answer. company sole use of a (a) Pat Co has purchased a patent for RM 20,000. The patent, particular manufacturing process which will save RM 3,000 a yea the next five years. (b) Baldwin Co paid Don Brennan RM 10,000 to set up a car repair shop, on condition that priority treatment is given to cars from the company's fleet. (c) Deals on Wheels Co provides a warranty with every car sold. (Each 2 marks; 3 x 2-6 marks)