Question: You have discovered an error in which the tenant has incorrectly recorded as rent expense a $5,000 payment made on December 1 for rent for

You have discovered an error in which the tenant has “incorrectly” recorded as rent expense a $5,000 payment made on December 1 for rent for the months of December and January. As a young auditor you are not sure whether this must be corrected. You think it is a self-correcting error. What are the issues you should consider?

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