Bernoulli’s theorem describes the conservation of energy in a flowing fluid and can be derived by analyzing the work done by pressure forces, gravity, and changes in velocity along a streamline. It is mathematically expressed as:
\[
P + \rho gh + \frac{1}{2} \rho v^2 = \text{constant},
\]
where:
     \( P \): Pressure energy per unit volume,
     \( \rho \): Density of the fluid,
     \( g \): Gravitational acceleration,
     \( h \): Height above a reference level,
     \( v \): Velocity of the fluid.
 To analyze the given options:
     Option (a): The use of \( m \) (mass) instead of \( \rho \) (density) is incorrect because Bernoulli’s equation is based on energy per unit volume, not mass.
     Option (c): Modifying the potential energy term as \( mg \) instead of \( \rho gh \) is dimensionally inconsistent.
     Option (d): Changing the kinetic energy term from \( \frac{1}{2} \rho v^2 \) to \( \frac{1}{2} m v^2 \) is incorrect for fluid dynamics, as it does not conform to energy per unit volume.
 Only option (b) correctly preserves the balance of energy terms per unit volume:
\[
P + \rho gh + \frac{1}{2} \rho v^2 = \text{constant}.
\]
 Final Answer:
\[
\boxed{P + \rho gh + \frac{1}{2} \rho v^2 = \text{constant}}
\]