Concept:A current liability is an obligation that a business must settle within twelve months.
Explanation:Current liabilities are amounts due to creditors within one accounting year.
Common examples include accounts payable, accrued expenses, and bills payable.
Stock of raw material is an asset because it is inventory held for production.
Cash in hand and cash at bank are current assets, not liabilities.
Bills payable represent written promises to pay suppliers or creditors.
This amount is usually due within a short period, so it is a current liability.
Therefore, among the options, the correct item is bills payable.
Answer:C. Bills payable