QUESTION 1 The most important variable in making a financial forecast is: o 1. the time between sales and receivables. 2. A good sales forecast. 3. The level of interest rates. 4. the amount of cash on hand. QUESTION 2 A relative aggressive working capital policy would have which of the following characteristics? 01. A high ratio of long-term debt to fixed assets. 2. A low current ratio. 3.A high ratio of current assets to fixed assets. 4. A low ratio of short-term debt to long-term debt. QUESTION 3 Net working capital is usually defined as: 1. total current assets minus total current liabilities. current assets minus work in progress. 3. current assets minus non-liquid assets 4. total current assets minus inventories