In chapter 2, when the possibility of danger is close ,how do the dwarves meet the challenge?

When they see a light in the distance and since Bilbo is the burglar of the group it is his job to go and investigate the scene. Arriving at the fire, Bilbo discovers three trolls who are roasting mutton on spits. They are, of course, significantly larger than Bilbo and summoning his nerves, Bilbo decides to live up to his profession by pick-pocketing. Bilbo reaches for the troll's purse but the bag squeaks: "Ere, oo are you?" and of course, the troll seizes Bilbo. The three trolls, Bert, William and Tom are discussing exactly what a hobbit is and whether Bilbo is worth eating‹ and if so, how should he be prepared?

The trolls argue over Bilbo's fate and when they are physically engaged with one another, Bilbo escapes though not without bruises. Unfortunately, the scene does not end here because the dwarves grew impatient while waiting for Bilbo and, hearing the trolls' noises, decided to approach the fire. Trolls hate the sight of dwarves and the appearance of Balin sets Tom and the other trolls on a rampage. It is not long before all twelve of the dwarves are held in sacks and the trolls are contemplating another dinner. Gandalf rescues the dwarves with an invisible appearance. He periodically interrupts the trolls' conversation, saying false statements in voices that resemble the trolls' voices. Bert, William and Tom each conclude that the other two are lying and/or mad and of course, they engage in more physical brutality, whacking each other in the head and arguing until dawn is suddenly upon them and they turn into rocks.

Gandalf is pleased with his performance and he releases the dwarves. Bilbo had stolen a key that fell from one of the troll's pockets and the group is able to find the trolls' lair and make good use of their provisions.