The correct answer is: D. Current liability
A redeemable debenture is a type of loan that must be repaid by the issuer at a specified date. If the payment has not been received by the debenture holder, it is considered a current liability on the issuer’s balance sheet.
A current liability is a debt that is due within one year. It includes accounts payable, short-term notes payable, and accrued expenses.
An unsecured loan is a loan that is not backed by collateral. A secured loan is a loan that is backed by collateral, such as a car or house.
A contingent liability is a potential liability that may arise from a past event but is not certain to occur. For example, if a company is sued, the amount of the potential liability is not known until the lawsuit is settled.
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