Step 1: Recall the purpose of the open-circuit test.
In the open-circuit (no-load) test of a transformer,
- the secondary winding is kept open,
- the rated voltage is applied to the primary,
- the no-load current is very small.
Hence, copper loss is negligible.
Step 2: Identify the measured power.
Since copper loss is negligible, the wattmeter reading mainly represents
\[
\boxed{\text{Core (iron) loss}}
\]
which consists of hysteresis and eddy current losses.
Therefore,
\[
\boxed{(B)}
\]
is the correct answer.