Consider the following situations. In each case, is there an asset or liability within the definitions given by the Conceptual Framework? Explain your answer. Elaborate your view with reference to the HKICPA Conceptual Framework of Financial Reporting (2018).

a PPA Limited has purchased a copyright for $350,000. The copyright gives the company exclusive use of radio-frequency identification (RFID) technology for the production of a video game which will bring additional revenue around $300,000 each year for the next five years.

b DDA Limited paid TYT Limited $10,000 to set up a pet grooming shop, provided that DDA Limited gets priority in the pet grooming treatment services offered. Please answer the questions from the perspective of DDA Limited.