The correct answer is: A. Arrears of wages.
A current liability is a debt or obligation that a company expects to pay within one year. Arrears of wages are wages that have not been paid to employees for work that they have already done. They are a current liability because the company is expected to pay them within one year.
Redeemable preference shares are shares that a company can buy back from shareholders at a specified date. They are not a current liability because the company does not have to pay them back immediately.
Share premium is the amount of money that a company receives when it sells shares for more than their par value. It is not a current liability because it is not an obligation that the company has to pay back.
Provision for machinery depreciation is an estimate of the amount of money that a company expects to spend on repairing or replacing machinery in the future. It is not a current liability because it is not an obligation that the company has to pay back immediately.
In conclusion, the correct answer is: A. Arrears of wages.