The correct option is
A both momentum and kinetic energy are conserved
An elastic collision is a collision in which there is no net loss in kinetic energy in the system as a result of the collision. Both momentum and kinetic energy are conserved here. In an elastic collision, the objects separate after impact and don’t lose any of their kinetic energy. Kinetic energy is the energy of motion. The elastic collision also follows law of conservation of momentum. Figure shows an elastic collision where momentum and kinetic energy is conserved.