Discuss whether the following items would meet the definition of an asset using the IFRS definitions. If so, explain with reference to the appropriate criteria. 1.A franchisee has a licence to operate a Tim Hortons restaurant. 2.The parent company has guaranteed the operating line of credit of its subsidiary, which resulted in the subsidiary obtaining a lower interest rate than it would otherwise receive. Is the guarantee an asset for the subsidiary? 3.FreshWater Inc. bottles and sells the spring water from a natural spring near its property. Is the natural spring an asset of the company? 4.Mountain Ski Resort Ltd. often has to use its snow-making machine to make snow for its hills and trails when there is not enough natural snowfall. Is the snow an asset for Mountain Ski?