The correct option is C Assertion is correct but Reason is incorrect
The true weight--the gravitational force that the earth exerts on the object--remains. What is zero is the apparent weight, which is the magnitude of the contact force supporting an object. That's what is meant by the term "weightless"--the apparent weight is zero, not the "true" weight. When standing on the ground, both your true and apparent weight equal mg. When you jump off the roof, your true weight is mg while your apparent weight goes to zero