You are a consultant at Advanced (Pty) Ltd (Advanced). Advanced provides accounting and tax consulting services to various clients. Your client portfolio includes the following three allocated clients who have approached you regarding the recognition of assets and liabilities in terms of the revised Conceptual Framework for Financial Reporting 2018. Cllent 1: Wlzzkidz (Pty) Ltd Wizzkidz (Pty) Ltd (Wizzkidz) is a developer and retailer of children's technological learning and educational games. The entity has a 30 June year-end. The managing director at Wizzkidz recently travelled overseas where he came across a reading, spelling, and vocabulary game which would improve the reading and comprehension of children in grades 1 to 6 . He was so excited about the idea and had the technical team develop the application called 'Wizzkidz Comprehension'. Wizzkidz has registered a patent for this application, and they will be the only company locally with the right to develop and retail the 'Wizzkidz Comprehension' application. This patent will ensure that Wizzkidz is the only designer, developer, and retailer of this application. speiling, and vocabulary game which would improve the reading and comprehension of children in grades 1 to 6 . He was so excited about the idea and had the technical team develop the application called 'Wizzkidz Comprehension'. Wizzkidz has registered a patent for this application, and they will be the only company locally with the right to develop and retail the 'Wizzkidz Comprehension' application. This patent will ensure that Wizzkidz is the only designer, developer, and retailer of this application. It is estimated that 1,5 million Wizzkidz Comprehension applications will be purchased and downloaded on smartphones and devices across South Africa. Cllent 2: Easymove (Pty) Ltd Easymove (Pty) Ltd (Easymove) is a packing and moving company with a December year-end. Easymove's main business is assisting customers packing up their homes and offices and transporting all their goods to their new homes and offices. The entity now wants to expand their service offering by including long distance moves between all the major cities and towns around South Africa. To expand their offering Easymove invested in 2 trucks which were purchased and delivered to their premises in Cape Town during December 2022. At the 2022 year-end, the outstanding balance payable to the supplier amounting to R500 000 had not been settled. The R500 000 is due to be paid by 31 January 2023. Cllent 3: Accprac (Pty) Ltd Accprac (Pty) Ltd is an accounting practice that has invited you to be the guest presenter at their technical session update with their senior trainees and managers about the Conceptual Framework for Financial Reporting 2018. They have specifically requested that you address the enhancing qualitative characteristics of financial statements. REQUIRED: 1.1) With reference to Client 1: Wizzkidz (Pty) Ltd, discuss, in terms of The Conceptual Framework for Financial Reporting 2018, whether the patent may be recognised as an asset in the financial statements of Wizzkidz (Pty) Ltd for the year ended 30 June 2023. (13 marks) 1.2) With reference to Client 2: Easymove (Pty) Ltd, discuss, in terms of The Conceptual Framework for Financial Reporting 2018, whether the outstanding balance of R500 000 may be recognised as a Ilability in the financial statements of Easymove (Pty) Ltd for the year ended 31 December 2022. (13 marks) 1.3) With reference to Client 3: Accprac (Pty) Ltd, list and provide a brief explanation of any two enhancing qualitative characteristics of financial statements in terms of the Conceptual Framework for Financial Reporting 2018. Competency Framework Reference