Step 1: Match each organism with its characteristic.
\[
\boxed{
\begin{aligned}
\textit{Azotobacter} &\rightarrow \text{Free-living aerobic nitrogen fixer (III)}
\textit{Clostridium} &\rightarrow \text{Anaerobic nitrogen fixer (I)}
\textit{Rhizobium} &\rightarrow \text{Symbiotic nitrogen fixer (II)}
\text{Leghemoglobin} &\rightarrow \text{Oxygen buffering protein (IV)}
\end{aligned}
}
\]
Step 2: Write the correct matching.
Thus,
\[
\boxed{
A-\mathrm{III},\;
B-\mathrm{I},\;
C-\mathrm{II},\;
D-\mathrm{IV}
}
\]
Therefore,
\[
\boxed{(A)}
\]
is the correct answer.