The correct option is C as an oxidizing, chlorinating and hydrolyzing agent
In the preparation of chloroform, bleaching powder acts as chlorinating, oxidising and hydrolysing agent
Bleaching powder and water react, form Cl2 and Ca(Cl)2
chlorine then reduce ethanol form ethanal
ethanal react with more chlorine form chloral(CCl3CHO)
chloral react with Calcium hydroxide and form chloroform and calcium formate.