The correct option is B Both Assertion and Reason are correct but Reason is not the correct explanation for Assertion
In phenols, the lone pairs of electrons on the oxygen atom are delocalised over the benzene ring due to resonance and hence are not easily available for protonation. On the other hand, in alcohols, the lone pairs of electrons on oxygen atom are localized due to the absence of resonance and hence are easily available for ptotonation.