\text{Consider the reaction:}

{\text{CH}}_3{\text{CH}}_2\text{OH}+\text{Alkaline KMnO}4\stackrel{\text{Heat}}{\to }{\text{CH}}_3\text{COOH}

\text{Which of the following statements is/are correct?}

\text{(A) The reaction represents the oxidation of a primary alcohol to a carboxylic acid.}

\text{(B) Alkaline KMnO}4\text{acts as an oxidising agent.}

\text{(C) Alkaline KMnO}4\text{acts as a reducing agent.}

The correct option is Only A and B.

Let us analyze the given chemical reaction and the statements step-by-step:

The given chemical reaction is:
$${\text{CH}}_3{\text{CH}}_2\text{OH}+\text{Alkaline KMnO}4\stackrel{\text{Heat}}{\to }{\text{CH}}_3\text{COOH}$$
Here, ethanol (${\text{CH}}_3{\text{CH}}_2\text{OH}$), which is a primary alcohol, is converted into ethanoic acid (${\text{CH}}_3\text{COOH}$), which is a carboxylic acid.

Analysis of Statement (A):
Ethanol (${\text{CH}}_3{\text{CH}}_2\text{OH}$) has its hydroxyl group ($-\text{OH}$) attached to a primary carbon atom (a carbon atom bonded to only one other carbon). Thus, it is a primary alcohol. The reaction converts it to ethanoic acid (${\text{CH}}_3\text{COOH}$), which contains a carboxylic acid group ($-\text{COOH}$). This conversion involves the loss of hydrogen atoms and the gain of an oxygen atom, which is the definition of oxidation. Therefore, statement (A) is correct.

Analysis of Statements (B) and (C):
An oxidizing agent is a substance that oxidizes other substances and gets reduced itself. In this reaction, alkaline potassium permanganate (${\text{KMnO}}_4$) provides the oxygen necessary to oxidize the primary alcohol to a carboxylic acid. Thus, alkaline ${\text{KMnO}}_4$ acts as a powerful oxidizing agent. Consequently, statement (B) is correct and statement (C) is incorrect.

Since statements (A) and (B) are correct, the correct option is "Only A and B".