The stack stores activation records $($i$.$e$.,$ stack frames$).$ An activation record is pushed to the stack when a function is invoked. When the function returns, its activation record is popped from the stack. Which of the following statements best describes how the stack maintains its collection of activation records?

Once an activation record is pushed to the stack, it is never removed.

The first activation record pushed is the first activation record popped.

The first activation record pushed is the last activation record popped.

The stack does not maintain activation records.