Is vs. Are

[Zen C]

Hi,

Can you help me with this sentence. Should it be is or are?

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If a word is used both as singular and plural (can't think of one right now)
is the rule to read it as a singular and use "is" or to read it as plural
and use "are."

How do you spell the plural of status? Is it statuses or status'?? The
Merriam Webster Dictionary says statuses, my  colleague says status'. I am
confused.

Zen