The correct option is C Fermentation
The energy-releasing process in which the substrate is oxidized without an external electron acceptor is anaerobic respiration (fermentation).
Anaerobic respiration occurs in two stages.
First, the substrate is converted into pyruvate via glycolysis. During this process, NAD+ acts as an electron acceptor
During the next stage, the generated pyruvate is broken down to either ethanol or lactic acid. This process utilizes the electron accepted by NAD+, thus regenerating it.
Therefore, during the process of fermentation, electron acceptor are not generated.
Glycolysis is a multi-step process that takes place in the cytoplasm, in which glucose (a six carbon sugar) is split into two molecules of the three-carbon sugar pyruvate with the generation of two molecules of ATP and two "high energy" electron carrying molecules of NADH.
Aerobic respiration is the process that leads to the complete oxidation of organic substances in the presence of oxygen, which acts as terminal electron acceptor and releases carbon dioxide, water and a large amount of energy present in the substrates.
Photorespiration is a light induced oxidation of photosynthetic intermediates with the help of oxygen without releasing energy.