If a plant asset is retired and is fully depreciated,
A)a gain on disposal will be recorded.
B)phantom depreciation must be taken as though the asset were still on the books.
C)a loss on disposal will be recorded.
D)no gain or loss on disposal will be recorded.

Question

Quizplus · Accepted Answer

When a fully depreciated plant asset is retired, its book value is zero, so no gain or loss is recorded upon its disposal.

If a Plant Asset Is Retired and Is Fully Depreciated