Step 1: Understanding the Concept
In the electron transport chain, electrons pass from NADH and \(\text{FADH}_2\) through ubiquinone and the cytochromes to cytochrome oxidase.
Step 2: Final acceptor
Cytochrome oxidase hands them to molecular oxygen, the final acceptor, which is why aerobic respiration stops without \(\text{O}_2\).
Step 3: Product
Reduced oxygen combines with protons to form water, called metabolic water.
Final Answer:
Molecular oxygen is the ultimate acceptor and it forms metabolic water.
\[ \boxed{\text{(B) }\text{Molecular oxygen, metabolic water}} \]