Concept:
The relationship between the standard cell potential and the equilibrium constant is
\[
\boxed{
E^\circ=\frac{0.0591}{n}\log K
}
\]
where
• \(E^\circ\) = Standard cell potential,
• \(n\) = Number of electrons transferred,
• \(K\) = Equilibrium constant.
A positive value of \(E^\circ\) indicates that the reaction is spontaneous and has a large equilibrium constant.
Step 1: Write the given data.
\[
E^\circ=0.354\,V
\]
\[
n=2
\]
Step 2: Apply the Nernst equation.
Using
\[
E^\circ=\frac{0.0591}{n}\log K,
\]
we get
\[
0.354=\frac{0.0591}{2}\log K.
\]
Hence,
\[
\log K=\frac{0.354\times2}{0.0591}
\]
\[
=\frac{0.708}{0.0591}
\]
\[
\approx11.98\approx12.
\]
Step 3: Calculate the equilibrium constant.
\[
K=10^{12}.
\]
Therefore,
\[
\boxed{K\approx1\times10^{12}.}
\]
Hence,
\[
\boxed{\textbf{Option (A)}}
\]
is the correct answer.