Answer: C
The compound is 3-hydroxybutan-2-one, an alpha-hydroxy ketone. HIOX4 cleaves the bond between the carbonyl carbon and the carbinol carbon: the carbonyl carbon is oxidised to the carboxylic acid (CHX3COOH) and the carbinol carbon becomes the aldehyde (CHX3CHO). Dehydrogenation to the diketone is not what periodic acid does.