Step 1: Identify the functional groups in the given compound.
The given compound contains two important functional groups:
(i) A ketone group \( >C=O \) on the cyclohexane ring.
(ii) An aldehyde group \( -CHO \) attached to the ring.
Step 2: Reaction with \( Cu^{2+}/OH^- \) followed by \( H_3O^+ \).
The reagent \( Cu^{2+}/OH^- \) oxidizes aldehydes to carboxylate ions.
On acidification with \( H_3O^+ \), the carboxylate ion is converted into carboxylic acid.
The ketone group remains unaffected under these conditions.
So, product \( X \) contains \( -COOH \) in place of \( -CHO \), while the ketone group remains unchanged.
Step 3: Formation of \( X \).
Thus, \( X \) is the compound having cyclohexanone ring with a carboxylic acid substituent.
This structure matches with product \( X \) shown in option (B).
Step 4: Reaction of \( X \) with \( NaBH_4 \).
\( NaBH_4 \) is a mild reducing agent.
It reduces aldehydes and ketones to alcohols but does not normally reduce carboxylic acids.
Since \( X \) contains a ketone and a carboxylic acid group, only the ketone group is reduced to alcohol.
The \( -COOH \) group remains unchanged.
Step 5: Formation of \( Y \).
Therefore, product \( Y \) contains an alcohol group in place of the ketone group, while the carboxylic acid group remains unchanged.
This matches with product \( Y \) shown in option (B).
Step 6: Reaction with \( Zn/Hg \) and concentrated \( HCl \).
\( Zn/Hg \) with concentrated \( HCl \) is Clemmensen reduction.
It reduces aldehydes and ketones to \( -CH_2- \) groups.
Thus, the ketone group on the ring is reduced to methylene, and the aldehyde group \( -CHO \) is reduced to methyl group \( -CH_3 \).
Step 7: Formation of \( Z \).
Thus, product \( Z \) is the reduced cyclohexane derivative shown in option (B).
Hence, the correct set of products \( X, Y \) and \( Z \) is represented by option (B).
Therefore:
\[
\boxed{\text{Option B}}
\]