Limitations of Duration Include Which of the Following

Limitations of Duration include which of the following:

A) Assumes a flat yield curve with the same discount rate used for each cash flow each year.
B) Assumes a parallel shift in the yield curve with both short-term and long-term rates rising by the same amount when rates change.
C) For large portfolios, adjustments need to be made for convexity (given with a change in rates, capital gains are larger than capital losses which duration as a linear relationship doesn't adjust for) .
D) All of the above.