Step 1: Understanding Krebs cycle reactions.
The Krebs cycle involves a series of oxidation and decarboxylation reactions to release energy.
Step 2: Analyzing each intermediate.
Isocitric acid and $\alpha$-ketoglutaric acid undergo oxidative decarboxylation.
Malic acid undergoes oxidation to form oxaloacetic acid.
Fumaric acid undergoes hydration, not oxidation or decarboxylation.
Step 3: Conclusion.
Thus, fumaric acid does not undergo oxidation or decarboxylation in the Krebs cycle.