The overall equation for photosynthesis is: $6\text{CO}_2 + 6\text{H}_2\text{O} + \text{Light Energy} \rightarrow \text{C}_6\text{H}_{12}\text{O}_6 \text{ (glucose)} + 6\text{O}_2$. This is a redox process:
Oxidation of Water (H$_2$O): During the light-dependent reactions, water molecules are split, donating electrons. Water is oxidized to oxygen gas (O$_2$). The oxygen atoms in H$_2$O (oxidation state -2) lose electrons and become O$_2$ (oxidation state 0). $2\text{H}_2\text{O} \rightarrow \text{O}_2 + 4\text{H}^+ + 4e^-$
Reduction of Carbon Dioxide (CO$_2$): During the light-independent reactions (Calvin cycle), carbon dioxide molecules are reduced to form carbohydrates like glucose. CO$_2$ accepts electrons (originally from water, via electron carriers like NADPH). The carbon atom in CO$_2$ (oxidation state +4) gains electrons to become part of glucose (average oxidation state of C is 0).
Therefore, solar energy drives the oxidation of water and the reduction of carbon dioxide. Option (a) correctly states this. Option (b) describes the reverse (akin to respiration). Options (c) and (d) involve products or misidentify the redox processes. \[ \boxed{\text{Reducing CO}_2 \text{ and oxidizing H}_2\text{O}} \]