Which of the following statements relating to working capital financing is not correct?

( )Long-term debt is less risky that short-term debt

( )A conservative policy uses long-term debt to finance fixed assets

( )The matching principle indicates that fluctuating current assets should be financed by short-term debt

(x)Short-term debt is cheaper than long-term debt

( )An aggressive policy uses long-term debt to finance fluctuating current assets