Which substance is noted for being absorbed by latent print residue during the development process?

Iodine is recognized for its ability to be absorbed by latent print residue during the development process. When latent prints are treated with iodine, the iodine vapors interact with the oily materials and other substances left behind from fingers, resulting in a visible development of the print. This process relies on the ability of the iodine to sublimate and then adhere to the residues, producing a brownish print that can be further enhanced if necessary.

The other substances listed, while potentially useful in different contexts, do not have the same direct absorption qualities related to latent print development. Carbon, for example, is typically used in powder form for fingerprinting but does not absorb onto the latent prints in the same way iodine does. Alcohol and acetone are solvents that might affect the composition of residues instead of contributing to their visibility through absorption. Thus, iodine stands out as the substance specifically associated with this absorption characteristic, making it the correct answer.