Question: 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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