An organic compound (A) has molecular formula C$_8$H$_8$O. It gives an orange-red precipitate with 2,4-dinitrophenylhydrazine (2,4-DNP) and a yellow precipitate on heating with iodine in the presence of NaOH. It does not reduce Tollens' reagent or Fehling's solution and does not decolourise Br$_2$-water/Baeyer's reagent. On strong oxidation with chromic acid it forms a carboxylic acid (B) of formula C$_7$H$_6$O$_2$. Identify (A) and (B).