What is a process in the context of computing?

In the context of computing, a process refers to an executing program. This means that it is a set of instructions that the computer's CPU is currently processing. When a program runs, it transitions from a static state (the program file stored on disk) to a dynamic state (the process in execution) where it performs operations, utilizes memory, and interacts with hardware and other software.

A web browser, for example, is an application that allows users to access and navigate the internet. When it is launched, it becomes a process because it is actively executing its code and functioning in real time, handling tasks like loading web pages, downloading files, or running scripts.

The other options describe concepts that do not accurately reflect what a process is in computing. A completed application indicates a state that is not indicative of execution, a hardware component refers to the physical parts of a computer, and a file being downloaded pertains to a data transfer activity rather than an executing program. Hence, option B rightly identifies the essence of a process within the computing framework.