The photoelectric effect can be explained on the basis of
Quantum theory of light
The explanation for the correct option:
In the case of option D,
Quantum theory of light:
The explanation for the incorrect options:
In the case of option A,
In the case of option B,
Light from a source propagates in a homogeneous medium as longitudinal waves with uniform velocity, according to wave theory.
In the case of option C,
Light waves, according to this theory, have the same properties as electromagnetic waves, which are caused by a rapidly oscillating electric current.
Hence, option (D) is correct.