Question 2 (20 marks) Answer the following questions. Elaborate your view with reference to HKICPA's Conceptual Framework of Financial Reporting (2018). a The China Motor Bus Company Ltd would generate most of its future economic benefits from its skilled drivers and from using the public roads. Therefore, aside from the buses, stations and other equipment, the company can include the cost of drivers and public roads in the company's statement of financial position as assets. Do you agree? (10 marks) Assuming that HKAS 20 Accounting for Government Grants and Disclosure of Government Assistance does not exist, suppose the HKSAR Government gives a piece of land to a company at no charge. The company builds an organic farm on the land and agrees to employ 500 workers in the farm for five years. Should the fair value of the land be recognized as income to the company? (10 marks) Question 2 (20 marks) Answer the following questions. Elaborate your view with reference to HKICPA's Conceptual Framework of Financial Reporting (2018). a The China Motor Bus Company Ltd would generate most of its future economic benefits from its skilled drivers and from using the public roads. Therefore, aside from the buses, stations and other equipment, the company can include the cost of drivers and public roads in the company's statement of financial position as assets. Do you agree? (10 marks) Assuming that HKAS 20 Accounting for Government Grants and Disclosure of Government Assistance does not exist, suppose the HKSAR Government gives a piece of land to a company at no charge. The company builds an organic farm on the land and agrees to employ 500 workers in the farm for five years. Should the fair value of the land be recognized as income to the company? (10 marks)