Statistics — finite population correction factor

When sampling is without replacement, then $V(\bar x)=\dfrac{\sigma^2}{n}\left(\dfrac{N-n}{N-1}\right)$. The factor $\dfrac{N-n}{N-1}$ is ignored under which of the following conditions?

I. $n$ is small compared to $N$

II. $n=N$

III. Population is infinite

Select the correct answer using the code given below.