Which one of the following statements is correct? A) Cash management primarily involves determining the optimal level of liquidity that should be maintained. B) The longer the cash cycle, the more likely a company will need external financing. C) The cash cycle can exceed the operating cycle if the payables period is equal to zero. D) Offering early payment discounts to customers will tend to increase the cash cycle. E) Increasing the inventory turnover rate will increase the operating cycle, assuming all else held constant.