The correct option is B Saponification
The alkaline hydrolysis of oils and fats is called saponification. In the process, animal or vegetable fat is converted into soap (a fatty acid) and alcohol.
The reaction requires a solution of an alkali (e.g. sodium hydroxide or potassium hydroxide) in water and heat.
CH3COOC2H5+NaOH→C2H5OH+CH3COONa