E$11.$ Business Application $$ Identify each of the following decisions as most

directly related to $($a$)$ cash flow management, $($b$)$ choice of inventory system, or $($c$)$ foreign merchandising transactions:

$1.$ Determination of the amount of time from the purchase of inventory until it is sold

and the amount due is collected.

$2.$ Determination of the effects of changes in exchange rates.

$3.$ Determination of policies governing sales of merchandise on credit.

$4.$ Determination of whether to use the periodic or the perpetual inventory system.