Which financing option is typically shorter-term?

The financing option that is typically shorter-term among the choices provided is notes. Notes are usually issued for a relatively brief duration, often ranging from a few months to a few years, making them an effective choice for quick funding needs. They are commonly used for immediate financing requirements or temporary cash flow issues and are often more flexible and less costly in terms of issuing and servicing compared to longer-term financing instruments.

In contrast, lease-purchase agreements usually involve longer commitments due to the nature of leasing assets over a specific period, typically spanning several years. Bonds are generally long-term financial instruments, with maturities that can extend over decades, making them suitable for funding large, capital-intensive projects. Certificates of participation, while they can also vary in term length, are generally issued for medium to long-term projects and are used to finance capital projects through lease agreements, often reflecting longer financing horizons.