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3 years ago

In the third step of the strategic management process, managers should:

1 answer:

5 0

In the third step of the strategic management process, managers should: Establish the organization's objectives .

Strategic management process simply means to formulate organization strategic that will enables the organization to achieve their goals and objectives.

When managers formulate a strategy it means that they are establishing and setting the direction for their business as this will help to designate the kinds of activities that will make their plan to become a reality.

When it comes to strategic management process It is important that managers establish objectives they want to achieve when planning to take action that will help implement the plan and vision the organization has for the future.

Inconclusion In the third step of the strategic management process, managers should: Establish the organization's objectives.

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3 years ago

Leon exchanges an office building which he held as investment property for a bowling alley. His office building has a basis of $

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According to Section 1031 of Internal Revenue Code, an exchange of like-kind property is referred to as like-kind exchange, if the exchange meets the following criteria:

The property should be exchanged only for the 'like-kind' (same class) property.
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A) Explanation: Since both the properties in exchange are real properties which are used in business, this is a like-kind exchange

Description Amount ($)

Fair market value of bowling alley 120,000

Add: Mortgage value L is relieved off 40,000

Amount reali7ed 160,000

Less: Adjusted basis (175:000)

Realized loss by L (15,000) 

C) Explanation: Since the loss realized is due to exchange, the loss is not recognized.

D) Explanation: Since the loss is not recognized, the character of gain or loss could not be

E) Explanation: The total of realized loss, $15,000 (From Requirement (b)) is deferred.

F) Determine the basis of property acquired in exchange, bowling alley.

Description Amount ($)

Fair market value of bowling alley 120,000

Add: Deferred loss 15,000

Basis of bowling alley 135,000

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