Short-term credit, or short-term financing, is any liability that is scheduled for repayment within one year. Sources of short-term funds include banks, suppliers, securities firms, and insurance companies. The obligations are in the form of bank loans, trade credit, commercial paper, secured loans, and accruals. Some types of short-term financing are easier to obtain and manage than others. Financial managers will consider the costs of the various sources of financing as part of a cash management strategy. The following statement refers to a source of short-term credit. Select the best term to complete the sentence. When resources are used and the payment for those resources is delayed, the result is the spontaneous creation of short-term McDermott Enterprises is a very large manufacturing company. McDermott's financial managers use many sources of financing for the company's annual borrowings, which exceed $100 million. McDermott's credit rating is excellent. At the moment, the managers are looking to fund a $5 million payroll by issuing a note with a 30-day maturity. What type of financing is this? Commercial paper Accrual Bank loans Trade credit