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Need a little help with this question....have an idea on which one it is (#1) but not 100% sure. Any help is appreciated. If a
Need a little help with this question....have an idea on which one it is (#1) but not 100% sure. Any help is appreciated.
If a plant asset is retired and is fully depreciated....
1. no gain or loss on disposal will be recorded
2. a gain on disposal will be recorded
3. phantom depreciation must be taken as though the asset will still on the books
4. a loss on disposal will be recorded
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