A friend of yours who is a junior accounting major has accepted an internship for next summer, but has not yet taken auditing. Since you are taking auditing now, she has asked you to explain the audit assertions as they relate to Plant Property and Equipment. For each of the audit assertions below provide a brief description of how these assertions relate to the PP&E. Do NOT use the actual assertion in your definition (for example: "Valuation means that PP&E is valued correctly"). Your job is to explain the assertion using different words, be specific to PPE. (Each definition is worth 4 points) Presentation of PPE means Disclosure of PPE means- Completeness of PPE means. Existence of PPE means- Rights of PPE means- Obligation of PPE means- Valuation of PPE means- Allocation of PPE means- 4