Select the correct option based on statements below:

Assertion (A): Aromatic aldehydes and formaldehydes undergo the Cannizzaro reaction.
Reason (R): Aromatic aldehydes are almost as reactive as formaldehyde.
 
1. Both (A) and (R) are True and (R) is the correct explanation of (A).
2. Both (A) and (R) are True but (R) is not the correct explanation of (A).
3. (A) is True but (R) is False.
4. (A) is False but (R) is True.
Hint: Aldehyde or ketone did not contain α hydrogen undergoes Cannizzaro reaction.

Explanation: 
Aromatic aldehyde and formaldehyde undergo Cannizzaro reaction due to absence of α hydrogen atom lead to the formation of carboxylic acid.
Benzaldehyde is less reactive than formaldehyde because the polarity of the carbonyl group is reduced in benzaldehyde due to resonance. Hence, aromatic aldehydes reactivity decreases with respect to formaldehyde. 
Hence, Assertion is a correct statement but the Reason is a wrong statement. So, option 3 is the correct answer.