Is debt necessary? Is short term debt better or worse than long term debt?

Find information on the pros and cons of debt financing. Address the following questions in your initial post: Is debt necessary? Is short term debt better or worse than long term debt? Does all debt financing require collateral or security? What happens in Saudi Arabia if an organization is unable to repay its debt? Be sure to support your statements with logic and argument, citing all sources referenced. N.B. references 4 sources