Which of the Following Is a Reason Why Conflicts Are

Which of the following is a reason why conflicts are lower among the capital providers of firms financed with short-term debt?

A) Short-term debt is not affected by credit ratings of other outstanding long-term debt.
B) Short-term debt cannot be repaid by issuing other long-term debt.
C) Firm value is not affected by short-term debt and only takes into account long-term debt and equity.
D) Short-term debt is less sensitive to a firm's investment decisions.