• Physical Fractions of Bovine Milk:
• Milk Plasma vs. Milk Serum (Whey):
• Milk Plasma: Liquid obtained after removing fat globules (essentially skim milk; contains water, casein micelles, whey proteins, lactose, and minerals).
• Milk Serum (Whey): Liquid remaining after the removal of both milk fat and casein micelles (via rennet coagulation or isoelectric precipitation at pH 4.6).
• Examination Answer Key: Option 1 (Milk plasma) is designated as the credited answer in the official examination key, though in standard physical chemistry texts the decaseinated liquid is termed milk serum/whey.
• Conclusion: Milk plasma (Option 1).

Correct option: (1) Milk plasma