Initial contact should be made through an intermediary as high up in the organization for which of the following firms

1. Companies with annual revenue of less than $25 million
2. Medium sized companies between $25 and $100 million in annual revenue
3. Large, publicly traded firms
4. Small, privately owned firms
5. Small, privately owned competitors

1. Rapid integration is usually important for all of the following reasons except for

1. Minimizes employee turnover
2. Improves the morale and productivity of current employees of both the acquiring and acquired firms
3. Builds confidence in current employees in the competence of management
4. Dispenses with the need for pre-integration planning
5. Reduces customer turnover

All of the following are often cited as factors critical to the ultimate success of the integration effort except for

1. Plan carefully, act quickly
2. The use of project management techniques
3. Early communication from the top of the organization
4. Salary and benefit reductions for many employees of the acquired company in order to realize cost savings
5. Making the tough decisions as early as possible

Certain post integration issues are best addressed prior to the closing. These include all of the following except for

1. Who will pay for employee severance expenses
2. How will employee payroll be managed during ownership transition
3. What will be done with checks from customers that the seller continues to receive after closing
4. How will the seller be reimbursed for monies owed to suppliers for products sold prior to closing
5. Who will pay for health care and disability claims that often arise just before a business is sold?