Which of the following statements about maturity matching strategy is true?

All fixed assets are funded with long-term financing.

All seasonal working capital needs are funded with short-term borrowing.

All of these.

As the level of sales varies seasonally, short-term borrowing fluctuates between some minimum and maximum level.

All fixed assets are funded with long-term financing.

All seasonal working capital needs are funded with short-term borrowing.

All of these.

As the level of sales varies seasonally, short-term borrowing fluctuates between some minimum and maximum level.