The correct cause and effect for the deterioration in rice bran oil quality is related to lipase activity, which leads to an increase in free fatty acids (FFA). After the bran is separated from the rice, if there is a delay in oil extraction, lipase enzymes naturally present in the bran begin to break down the triglycerides in the oil, producing free fatty acids. The presence of high levels of FFA indicates a decline in oil quality, as it leads to a rancid taste and odor, making the oil unsuitable for consumption.
Oil hydrolysis (option B) can also occur, but it is typically associated with an increase, rather than a decrease, in FFA. Bran stabilization (option D) would prevent excessive lipase activity and help to preserve oil quality, but this is not the cause of deterioration when there is a delay in oil extraction.
Thus, the correct answer is (A) Lipase activity; increase in FFA.