An advantage of short-term over long-term borrowing is:

Question

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Short-term borrowing offers flexibility as the borrower can choose to repay the loan quickly or extend the repayment period based on their financial situation. Long-term borrowing often comes with fixed repayment schedules and penalties for early repayment, limiting the borrower's flexibility. While short-term borrowing may have higher interest rates and fees, it can still be a more cost-effective option in certain situations. However, option B (no need to repay) is incorrect as all loans require repayment.

An Advantage of Short-Term Over Long-Term Borrowing Is