The correct option is C If assertion is true but reason is false.
Coacervates are microscopic spontaneously formed spherical aggregates of lipid molecules that are held together by electrostatic forces and that may have been precursors of cells. It was believed that life developed from coacervates.
The coacervates contain mainly proteins, polysaccharides and some water. These coacervates do not have lipid outer membranes, they cannot reproduce.
So, assertion is correct but reason is wrong.