Step 1: Concept
Dimensional formulas represent physical quantities in terms of the fundamental dimensions of mass ($M$), length ($L$), and time ($T$).
Step 2: Meaning
Work ($W$) is defined as the product of force ($F$) and displacement ($d$): $W = F \cdot d$.
Step 3: Analysis
Force has the dimensional formula:
\[ [F] = [M^1 L^1 T^{-2}] \]
Multiplying the dimensions of force by the dimensions of displacement ($[L^1]$) yields:
\[ [W] = [M^1 L^1 T^{-2}] \times [L^1] = [M^1 L^2 T^{-2}] \]
Comparing with other options: Force is $[M^1 L^1 T^{-2}]$, Power is $[M^1 L^2 T^{-3}]$, and Momentum is $[M^1 L^1 T^{-1}]$.
Step 4: Conclusion
Therefore, the dimensional formula $[M^1 L^2 T^{-2}]$ represents Work.
Final Answer: (B)