A conservatively financed firm would Multiple Choice use long-term financing for all fixed assets and short-term financing for all other assets. finance a portion of permanent assets and short-term assets with short-term debt. use equity to finance fixed assets, use long-term debt to finance permanent assets, and use short-term debt to finance fluctuating current assets. O use long-term financing for three items: permanent current assets, fixed assets, and a portion of the short-term fluctuating assets. Then use short-term financing for all other short-term assets