The following issues were not discovered by an inexperienced auditor in the audit of one Corporation:

1. The revenue balance includes numerous sales transactions in the last month that were erroneously recorded twice (i.e., double-counted).

2. The property, plant, and equipment account includes numerous expenditures that should have been expensed in the current year. (HINT: Your answer should focus on the PP&E balance.)

Please identify the issue and one assertion that best pertains to each undiscovered issue.

1.Issue:____________________ Assertion:_________________

2.Issue:____________________ Assertion:_________________