Rural Retreat Ltd operates a farm stay resort in the gorgeous countryside of South-East Queensland. Guests can enjoy bush walking, horse-riding, and other activities during their stay. Fresh organic meals are prepared by onsite chefs and guests enjoy meals seated by a campfire enjoying views over the Scenic Rim. Explain how Rural Retreat Ltd should account for the following items/situations. Justify your answer with reference to the Conceptual Framework's definitions and recognition criteria. (a) Framed photographs of the company's original farmland, prior to development of the farm stay resort, which are of great sentimental value to the owners. (b) A visitor staying at the resort fell off a horse during a supervised day-time activity and broke their leg. The visitor completed the on-site training and signed the waiver. The visitor is suing Rural Retreat Ltd for negligence. The lawyers have indicated Rural Retreat Ltd are likely to win the case. (c) A visitor staying at the resort was bitten by a snake on a bush-walk. The visitor is suing Rural Retreat Ltd for negligence. The lawyers have indicated Rural Retreat Ltd are unlikely to win the case and may be required to pay medical and other costs in the vicinity