The correct option is B He was late and could not catch the train.
A Complex sentence consists of one Main clause and one or more subordinate clause.
Compound sentences are made up of two or more Principal or Main Clauses.
They are generally formed using coordinating conjunctions like and, or, for, so, but, yet etc.
Option B is correct: "And" is a coordinating conjunction which simply joins two clauses. Hence, it is the correct answer.
Option A is incorrect: "As" is not a coordinating conjunction and hence cannot be used to form a compound sentence.
Option C is incorrect: "Or" is a coordinating conjunction that joins two clauses as option. Since, there is no choice being offered between the subordinate or main clause, hence option C is incorrect.
Option D is incorrect: Since, option B is the correct answer, hence option C is incorrect.