Concept:Accounts payable are amounts owed to suppliers for credit purchases, expected to be settled within the operating cycle.
Explanation:Such debts are payable within one year or one accounting period.
Obligations due within a short period are known as current liabilities.
Accounts payable are not prepayments, which are advance payments made by the business.
They are also not provisions because provisions are estimated future expenses.
Since they are short-term, they cannot be long term liabilities.
Hence, accounts payable fall under current liabilities.
Answer:C. current liability