Step 1: Understanding the composition of milk.
Milk is an emulsion, where fat droplets are dispersed in water. This makes it a colloidal system.
Step 2: Analysis of options.
(A) fat dispersed in water: This is the correct answer as milk consists of fat droplets suspended in water.
(B) water dispersed in fat: This is incorrect. The main phase in milk is water, with fat dispersed in it.
(C) water dispersed in oil: This describes an inverse emulsion, which is not the case for milk.
(D) fat dispersed in fat: This is incorrect as milk is not composed of fat dispersed in fat.
Step 3: Conclusion.
The correct answer is (A) because milk consists of fat dispersed in water.