19. With the Locked Box account approach, A The buyer is better off if at completion the target has generated more cash than the increase in net working capital compared to its locked box date level B I do not want to answer this question C The buyer is worse off if at completion the target has generated less cash than the increase in net debt compared to its locked box date level D The buyer is better off if at completion the target has generated less cash than the increase in net working capital compared to its locked box date level E The buyer is worse off if at completion the target has generated less cash than the decrease in net working capital compared to its level at the locked box date 20. Which of the following observations regarding due diligence of a private target is TRUE? A It is not in the interest of the target to have the acquirer conduct the due diligence even if the acquirer signs a nondisclosure agreement or insists that the target makes warranties and representations B It is in the interest of the target to have the acquirer conduct the due diligence only if the acquirer signs a nondisclosure agreement or insists that the target make warranties and representations It is in the interest of the target to have the acquirer conduct the due diligence only if the acquirer signs a nondisclosure agreement and insists that the target make warranties and representations D I do not want to answer this question E The buyer cannot conduct due diligence of the target or can only exceptionally conduct a very limited due diligence due to the risk of being implicated in insider trading