The correct option is
A A structure produced by fusion of uterine endometrium with extraembryonic fetal membranes like chorion, for physiological exchange between fetus and mother's blood.
The placenta is a structure produced by the fusion of uterine endometrium with extraembryonic fetal membranes like chorion, for physiological exchange between the fetus and the mother's blood. However, the placenta does not convert a single-layered embryo into a three-layered one. It is is a structure responsible for the exchange of substances like oxygen, antibodies, nutrients, and wastes, but it is not formed by the splitting of the endometrium.
So, the correct answer is 'A structure produced by fusion of uterine endometrium with extraembryonic fetal membranes like chorion, for physiological exchange between fetus and mother's blood.'.