Cu uS e uilentional e ar specific examples of these within the audits of property, plant, ond equipment 1. value: 3.34 points Read the potential misstatements for Property, Plant, and Equipment and indicate whether each is an error or fraud by dragging and dropping it under the appropriate heading. A gain recorded on an exchange of non-monetary assets that lacks commercial substance Key word is intentional Error Fraud An asset that has been replaced is discarded due to lack of value, with no entry to the general ledger Purchases of equipment are erroneously reported in a maintenance and expenser account An asset that has been replaced is discarded due to lack of value with no entry to the general ledger Purchases of equipment are erroneously reported in a maintenance and expense account A gain recorded on an exchange of non-monetary assets that lacks commerdal substance Expenditures for repairs and maintenance intentionally recorded as Property, Plant, and Equipment to overstate income Expenditures for repairs and maintenance intenionally recorded as Property, Plant, and Equipment to overstate income Reset eBook & Resources