Yes, it is true that for the built-in loss limitation to apply, the property must have been acquired by the corporation as part of a plan whose principal purpose was to recognize a loss on the property by the liquidating corporation. That is why A net built in loss has to be determined first.
Explanation:
Limitation is equal to the value of the stock of the loss borne by corporation immediately before the ownership changes.
The basis limitation rule only applies when there is a net built-in loss.
Built-in losses are the excess of the adjusted basis for U.S. federal income tax of any Contributed Property over its Agreed Value as of the time of contribution treated as deductions or losses in the year recognized.
A net built-in loss occurs when the aggregate adjusted basis of the property exceeds its fair market value.
In the political state of the world as at now, a lot of countries are using representative democracy where there seems to economic power tussle between China and America.
<h3>What is the current state of the world economy?</h3>
The economy of different nations are said to be growing wile some are expressing some financial crises.
Note that studies has shown that Global growth will rise to about 3.4 percent for 2021.
Therefore, In the political state of the world as at now, a lot of countries are using representative democracy where there seems to economic power tussle between China and America.
The answer in the space provided is impede because they need
to prevent the integration process of global information system in which
impeding is the process or practice that helps them to engage with the process
that involves of the GIS.
The satisfaction of customer is the key need of survival for any business.
As the customer satisfaction will result into good branding, economic support and vital performance booster for the organisation.
Customer satisfaction ensures that the organization is socially and economically viable, and equally capable of running business with the perspective of growth.
