I, II, III
II, III, IV
III, IV, V
I, IV, V
Budding is the mode of asexual reproduction wherein an outgrowth of part of a cell/body develops into progeny and either get separated or remain attached to the parent to form a new colony. Options II and III are incorrect as nucleus should be present in all buds. Option I show bud formation and nuclear division. Options IV and V show the chain of cells produced by budding. Therefore, the correct answer is option D.