Explanation: The energy-releasing metabolic process Substrate is oxidised without an extend electron acceptor is called fermentation.In the absence of oxygen (external electron acceptor), fermentation is incomplete oxidation of food substances into alcohol or lactic acid, with a small amount of energy being released. As an electron acceptor for the oxidation of substrates, aerobic respiration requires oxygen. The first common stage of both fermentation and aerobic respiration is glycolysis.Hence, the correct option is (D).