For the given question, NO option is correct. Detailed Video Solution with Complete Analysis of this question is HERE.
$ADD,SUB, CMP$ instructions affect all the status flags, like carry flag, zero flag etc.
$SUB$ instruction sets carry flag when there is need of borrow into the MSB i.e. when we subtract bigger number from smaller number. $ADD$ instruction sets carry flag when there is carry out of MSB. $CMP$ instruction subtracts second operand from first for flags only. If first operand is $\geq$ second operand, then carry flag is reset, else set.
NOTE that just before $RRC$ instruction, the $SUB$ instruction will also affect the Carry Flag, & in each iteration, since there is no requirement of borrow for the subtraction operation, Carry Flag will be reset just before the $RRC$ instruction.
Hence, WHATEVER be the value of $A$ in the beginning, the final value of $A$ will ALWAYS be $0.$
NOTE: In question, “SUB C, #1” should be replaced with “DEC C” to prevent modification of carry flag. Also, “ADD B, #1” should be replaced with “INC B” to prevent modification of carry flag. Also, it should be mentioned that $CMP$ instruction, somehow, doesn't affect carry flag. With these 3 changes, answer becomes Option A.
Detailed Video Solution with Complete Analysis: https://youtu.be/5aC2H2u_VgI
Both Question 48 & Q 49 are analyzed in the above lecture.