Step 1: Understand Cannizzaro reaction.
The Cannizzaro reaction involves the base-induced disproportionation of non-enolizable aldehydes, which results in the formation of an alcohol and an acid.
Step 2: Conclusion.
The aldehyde \( \text{CH}_3\text{COCHO} \) undergoes the Cannizzaro reaction.
Final Answer:
\[
\boxed{C}
\]