Which statements are correct about operating expense percentage?$$

$1.$ It is a financial indicator over which management can exert significant control over the longer term.

$2.$ As management$$s control over operating expenses improves, the business$$s operating expense percentage declines and cash flow improves.

$3.$ It is a financial indicator that is unaffected by changes in the competitive environment.

$4.$ It is a risk $($cash$)$ driver over which management typically has little influence.

$1$ and $2$ only.

$1$ and $3$ only.

$2$ and $4$ only.