Short Answer Question 2 - Conceptual Framework (Answer length approximately 100 words) Vision Ltd is in the ready-to-eat frozen meals business. It has seen a significant growth in its business because of the COVID-19 pandemic due to the convenience of its meals for people working from home. However, due to health and food safety handling regulations, it has had to increase the amount of the paper and plastic packaging for its products. The local council has sued Vision Ltd for breaching its paper and plastic waste quotas and is claiming that Vision will have to pay significant fines. Vision's lawyers have advised the company that they will defend Vision's actions and claim that Vision was acting in the public's interests, and they expect to win the case. Required: Should Vision Ltd recognize a liability for this event? Justify your answer by reference to the definition and recognition criteria as per the Conceptual Framework. (5 Marks)