Explanation:

When cutting and pasting, the item that is cut is temporarily stored in the clipboard.

Clipboard:
The clipboard is a temporary storage area in a computer's memory that holds the data that has been cut or copied. It allows users to move or duplicate data from one location to another. The clipboard is a standard feature in most operating systems and applications.

Process of Cutting and Pasting:
When you cut an item, such as text or an image, from a document or file, it is temporarily stored in the clipboard. The data remains in the clipboard until you paste it into another location. Pasting the item moves the data from the clipboard to the new location and removes it from the clipboard.

Function of Clipboard:
The clipboard allows users to easily move or duplicate data without having to retype or recreate it. It is a convenient feature for tasks such as copying and pasting text between documents, moving files from one folder to another, or duplicating images in graphic design software.

Alternative Storage Options:
While the clipboard temporarily stores the cut item, it is not permanently stored there. Once the item is pasted, it is no longer available in the clipboard. If the item is not pasted, it is not saved anywhere. The clipboard is a volatile storage area that is cleared when the computer is turned off or restarted.

Other storage options such as ROM, hard drives, and diskettes are not used for temporary storage during the cutting and pasting process. ROM (Read-Only Memory) is a type of non-volatile memory that stores permanent data. Hard drives and diskettes are used for long-term storage of files and data.

Therefore, the correct answer is option 'D' - clipboard.