Step 1: Concept
Ointment bases are classified into four groups: Oleaginous, Absorption, Water-removable, and Water-soluble bases.
Step 2: Meaning
Water-soluble bases are completely greaseless and can be easily washed off with water.
Step 3: Analysis
Soft paraffin and wool fat are greasy/oleaginous. Macrogols (also known as Polyethylene Glycols or PEG) are synthetic polymers that are highly soluble in water and used as greaseless bases.
Step 4: Conclusion
Therefore, Macrogol is the correct example of a water-soluble ointment base.
Final Answer: (D)