ASSERTION: Kerogen is converted into liquid and gaseous hydrocarbons via a process known as catagenesis.
REASON: Kerogen is a waxy material obtained from inorganic matter.
A. Both assertion and reason are correct and reason is the correct explanation for assertion.
B. Both assertion and reason are correct but reason is not the correct explanation for assertion
C. Assertion is correct but reason is incorrect
D. Both assertion and reason are incorrect.

Hint: Kerogen is solid, waxy and insoluble organic matter in sedimentary rocks. Catagenesis is a term used in petroleum geology to describe the cracking process which results in the conversion of organic kerogens into hydrocarbons.

Complete answer:
Kerogen is solid, waxy and insoluble organic matter in sedimentary rocks. It is derived from a Greek word meaning wax birth. It consists of an estimated ${10^{16}}$ tons of carbon which is the most abundant source of organic compounds on earth. It is insoluble in normal organic solvents and it does not have a specific chemical formula. When heated, kerogen converts in part to liquid and gaseous hydrocarbons. Petroleum and natural gas are formed from kerogen.
Increasing production of hydrocarbons from shale has motivated a revival of research into the composition structure and properties of kerogen. It is formed during sedimentary diagenesis from the degradation of living matter.
Many studies have documented dramatic and systematic changes in kerogen composition across the range of thermal maturity relevant to the oil and gas industry. Analysis of kerogen is generally performed on samples which are prepared by acid demineralization with critical point drying which isolates kerogen from the rock matrix without altering the chemical composition or microstructure.
Catagenesis is a term used in petroleum geology to describe the cracking process which results in the conversion of organic kerogens into hydrocarbons. It is the second stage of maturation of organic carbon on the path to becoming graphitic. This process accounts for very significant changes in the biogenic materials that make up the carbonaceous sediment.
From the above information we get to know that the assertion is correct but reason is wrong because kerogen is waxy but is not derived from inorganic matter.

So, the correct option is C. Assertion is correct but reason is incorrect

Note:
Kerogen is solid, waxy and insoluble organic matter in sedimentary rocks. When heated, kerogen converts in part to liquid and gaseous hydrocarbons. Catagenesis is a term used in petroleum geology to describe the cracking process which results in the conversion of organic kerogens into hydrocarbons.