Step 1: Understanding the one-word substitutes. A laurel is a symbol of achievement and recognition, historically used to crown victors.
Step 2: Analyzing the options. Option (A): Incorrect. A mercenary refers to someone hired to fight for a foreign army, not a symbol of honor. Option (B): Incorrect. Carte blanche refers to complete freedom or authority, not an accolade. Option (C): Incorrect. Fiesta refers to a celebration or party, not an accolade. Option (D): Correct. "Laurel" is a symbol of honor and recognition, making it the correct choice.