1. When preparing a set of financial projections on a company, which variable is the most important in determining future financial condition and performance? A.The level of projected debt B.The level of sales C.The turnover of receivables C D.The net operating profit margin 2. Which of the following steps should be performed when preparing a projected financial statement to analyze a request for a new term loan? 1. Analyze the company's historical operating performance II. Assess the company's key industry risks III. Learn about management's business plans IV. Obtain a monthly cash budget C A.I & III C B.I & IV C C.I, II & III D. I, II, III & IV C C