Step 1: Terminal velocity condition.
At terminal velocity, the net force acting on the sphere is zero. The forces involved are the buoyant force, the gravitational force, and the viscous drag force. The viscous force is given by:
\[
F_{\text{viscous}} = Mg \left( 1 - \frac{\rho_2}{\rho_1} \right)
\]
where \( \rho_1 \) is the density of the sphere, \( \rho_2 \) is the density of the liquid, and \( g \) is the gravitational acceleration.
Step 2: Conclusion.
Thus, the correct answer is (A) \( Mg \left( 1 - \frac{\rho_2}{\rho_1} \right) \).