From the news article relevant to your selected company listed below provide your analysis (400 total maximum words, 10 marks):
(a) Whether the item described is a liability through the essential characteristics and recognition criteria within the Conceptual Framework;
(b) Should a liability, provision or contingent liability be recorded at the time of writing;
(c) If a liability was recorded what would be the impact on the company’s valuation at the
time of the article with supporting calculations, including any journal entries that may be used to record the liability, provision or contingent liability.