Part C (4 marks) EJW, a medical research entity, has discovered a cure for a previously incurable disease. EJW is protecting the drug's formula by keeping it secure in the company vault, rather than by patenting it. EJW shortly plans to start discussions with interested pharmaceutical companies about producing the drug for commercial sale. Being the first of its kind and unique, EJW has no idea as to the formula's value. Costs incurred to date in developing the formula are impossible to identify, given that the cure was discovered as a by-product of another research project. Required: Discuss whether EJW should record the formula as an asset. You need to justify your answer by reference to relevant definition and recognition criteria of the Conceptual Framework