The correct answer is B) A red parachute flare. Red parachute flares are the most suitable item of lifeboat equipment for night signaling to a ship on the horizon. These flares are designed to produce a bright red signal that can be seen for several miles, making them highly effective for attracting the attention of distant vessels. Regulations for lifeboats and other survival craft require the carriage of parachute flares as an essential signaling device to aid in rescue operations, especially at night or in low visibility conditions. The other options, such as a flashlight (A), a lantern (C), or a red hand-held flare (D), while useful for other purposes, are not as well-suited for long-range night signaling as the red parachute flare.