Classify the following items (i - vi) in the below table in accordance with the existing accounting standards and the Conceptual Framework as:

1) An asset; 2) a liability; 3) a contingent liability; 4) revenue; 5) an expense or 6) none of these elements.

Required:

Choose the correct classification for the items below from the above classification list.

Classify the following items (i - vi) in the below table in accordance with the existing accounting standards and the Conceptual Framework as: