All of the following are results of credit policies: (Check all that apply.) 

a credit policy that is too tight may result in a low level of losses, but a decrease in sales. 

a credit policy that is too lenient may result in increased sales but also an increase in losses. 

a credit policy that is too lenient may result in a low level of losses, but an increase in sales. 

a credit policy that is too tight may result in a high level of losses, but a decrease in sales.