When the yield curve is upward sloping, generally a financial manager should:

A. utilize long-term financing
B. lease
C. utilize short-term financing
D. wait for future financing

When the yield curve is upward sloping, it means that the interest rates on long-term loans are higher than the rates on short-term loans. This typically suggests that the financial market expects interest rates to rise in the future.

In this scenario, a financial manager would generally prefer to utilize short-term financing (option C) rather than long-term financing (option A). This is because short-term loans have lower interest rates, so the manager can benefit from the lower borrowing costs.

Leasing (option B) is also a valid option because it involves obtaining the use of an asset without purchasing it outright. Leasing typically involves fixed monthly payments and could be a suitable alternative when interest rates are expected to rise.

It's important to note that waiting for future financing (option D) may not be the best option because if interest rates rise as expected, it could result in higher borrowing costs. Additionally, there is no guarantee that more favorable financing options will be available in the future.

Therefore, the best choice in this scenario would be to utilize short-term financing (option C) or consider leasing (option B) as an alternative.