Which of the following describes extracellular fluid?

Extracellular fluid refers to all body fluid that is not contained within cells. It comprises a significant portion of the body's total fluid content and includes several components, primarily blood plasma and interstitial fluid. Blood plasma is the liquid component of blood that carries cells and nutrients throughout the body, while interstitial fluid is the fluid that surrounds cells and provides them with nutrients and waste removal.

This definition captures the essence of what constitutes extracellular fluid, making option B the correct choice. The other options are more limited in scope: while option A refers specifically to intracellular fluid, options C and D narrow the definition further by focusing solely on lymphatic or cerebrospinal fluid, respectively, rather than acknowledging the broader categories of extracellular fluid.