Statement A: Dominance is not an autonomous feature of a gene or the product that it has information for.
Statement B: If the modified allele is equivalent to the unmodified allele, it will produce the same phenotype/trait.

If the modified allele is equivalent to the unmodified allele, i.e., it will produce the same phenotype/trait.
Dominance is not an autonomous feature of a gene or the product that it has information for. It depends as much on the gene product and the production of a particular phenotype from this product as it does on the particular phenotype that we choose to examine, in case more than one phenotype is influenced by the same gene.