On the part of an individual, the acquisition of values which the society…

The correct answer is B. Moral Development.

Moral development refers to the process through which an individual learns, understands, and internalises the values, principles, ethical standards, and ideas of right and wrong that are accepted and expected by society.

In the given question, the key phrase is:

“acquisition of values which the society expects to imbibe and practice.”

This means that an individual learns certain values expected by society and gradually makes them a part of his or her behaviour. These may include values such as honesty, fairness, responsibility, respect, truthfulness, cooperation, and concern for others. The development of such values and the ability to distinguish between morally right and wrong behaviour are aspects of moral development.

Let us differentiate it from the other options:

Social Development refers mainly to developing the ability to interact with others, form relationships, cooperate, and adjust to society. It is related to social behaviour but does not specifically refer to the internalisation of moral values.
Emotional Development refers to the ability to recognise, express, understand, and regulate emotions. It is concerned with emotional maturity rather than acquiring ethical or moral values.
Spiritual Development is related to beliefs, meaning, purpose, inner values, and spiritual understanding. Although it may influence a person's moral behaviour, it is not the specific concept described in the question.

Therefore, the acquisition and internalisation of values that society expects an individual to follow and practise is known as Moral Development.

Hence, the correct answer is B. Moral Development.