Following are errors, frauds, or other circumstances that an auditor might encounter as a result of applying year end substantive tests of details to fixed assets as of December 31, 1999:

a. During the physical inventory observation, the auditor sees machinery not present during the December 31, 1998 physical inventory.

b. Separate detailed records are now maintained for all fixed assets.

c. New equipment was installed during late December and early January.

d. Depreciation expense is lower than in 1998, and yet additions far exceeded disposals and retirements in 1999.

e. Equipment may have been disposed of, but the disposal was not recorded.

Required: 

For each of the above items, indicate: 

(1) a specific substantive test or tests that might address the error, fraud, or circumstance, 

(2) the financial statement assertion addressed by each test.