Step 1: Understanding formalin.
Formalin is a commonly used disinfectant and preservative, and it is a 40% aqueous solution of methanal (commonly known as formaldehyde). Formaldehyde is a simple aldehyde with the formula \( \text{CH}_2\text{O} \).
Step 2: Analysis of options.
(A) Formic acid: Formic acid is a different compound with the formula \( \text{HCOOH} \).
(B) Fluoroform: Fluoroform is a different compound with the formula \( \text{CHF}_3 \).
(C) 40% aqueous solution of methanal: Correct — Formalin is a 40% aqueous solution of methanal (formaldehyde).
(D) Paraformaldehyde: Paraformaldehyde is a polymer of formaldehyde, not the same as formalin.
Step 3: Conclusion.
The correct answer is (C) because formalin is a 40% aqueous solution of methanal (formaldehyde).