True or False - Il On the space provided, write TRUE if the idea being expressed is correct and FALSE if otherwise. 1.Marketing managers prefer lower inventory quantities since costs are associated with carrying inventories. 2.Entities would prefer to convert inventories to cash the fastest way possible. 3.At the economic order quantily, carrying costs exceed ordering costs. 4.The reorder point is measured as the lead time in order processing multiplied by daily inventory usage. 5.A safety stock prevents the occurrence of stock outs. 6.Under a JIT system, it is necessary to store sufficient inventory quantities at all times. 7.A two-bin system is an unsophisticated method of handling high value inventory items. 8.Relaxing credit standards would lead to higher sales and higher collection costs. 9.A float should be minimized or maximized, depending upon the perspective taken. 10.A cost-benefit tradeoff is unnecessary in analyzing policy choices for credit standards.