Discuss guidelines for a successful family business retreat.
What will be an ideal response?
Since a family retreat should have all family members including in-laws, having the meeting away from the company could encourage a more informal atmosphere. A facilitator should be hired to guide discussion if discussion is expected to be difficult.
Lansky's guidelines are to:
1. Be clear about the purpose of the retreat. What should the meeting accomplish?
2. Set small, attainable goals. Don't look at the retreat as having to accomplish all possible goals.
3. Use an agenda and stick to it. Schedule the meeting for a fixed period of time, and appoint someone to take notes.
4. Give everyone a chance to participate. This action is critical to establish trust among the participants. People need to feel that they have been heard.
5. Know the difference between consensus and agreement. Participants don't have to see things the same way (agreement) in order to concur on a course of action (consensus).
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The Carrasco Company has provided you the following information pertaining to its defined benefit pension plan that was adopted on January 1, 2018:The service cost was $750,000 during 2018 and $1,125,000 during 2019. The contribution to the pension plan was $600,000 on December 31, 2018 and $1,200,000 on December 31, 2019. The actuarially determined discount rate and the expected return on plan assets are both 10%. The actual return on plan assets was 10.5%. Retirement benefits pertaining to years of service prior to 2018 were not granted to the employees. What is the pension expense for the year ended December 31, 2019?
A. $1,137,000 B. $1,200,000 C. $1,065,000 D. $1,140,000
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Courts of equity will not grant specific performance for breach of contracts for personal service
Indicate whether the statement is true or false
Differences in borrowing rates can generally be explained by the level of risk of the investment or loan and by the length of the investment or loan
Indicate whether the statement is true or false.