This reaction is a Perkin condensation reaction. Benzaldehyde (PhCHO) reacts with acetic anhydride in the presence of a base (sodium ethoxide) to produce cinnamic acid \(\text{Ph} - \text{CH} = \overset{\text{CH}_3}{\text{C}} - \text{COOH}\).
The reaction proceeds through the formation of an enolate ion, followed by aldol-like condensation and dehydration to yield the α, β-unsaturated carboxylic acid product.