What is the role of fungal symbiont in mycorrhiza?

Absorbs phosphorus from the soil and passes it to the plant

The correct answer is Option (1) → Absorbs phosphorus from the soil and passes it to the plant  

Biofertilisers are organisms that enrich the nutrient quality of the soil. The main sources of biofertilisers are bacteria, fungi and cyanobacteria. The nodules on the roots of leguminous plants formed by the symbiotic association of Rhizobium. These bacteria fix atmospheric nitrogen into organic forms, which is used by the plant as nutrient. Other bacteria can fix atmospheric nitrogen while free-living in the soil (examples Azospirillum and Azotobacter), thus enriching the nitrogen content of the soil.

Fungi are also known to form symbiotic associations with plants (mycorrhiza). Many members of the genus Glomus form mycorrhiza. The fungal symbiont in these associations absorbs phosphorus from soil and passes it to the plant. Plants having such associations show other benefits also, such as resistance to root-borne pathogens, tolerance to salinity and drought, and an overall increase in plant growth and development.