Step 1: Reaction with Sodium.
When ethanol reacts with sodium metal, hydrogen gas is evolved and sodium ethoxide is formed.
\[
2\text{C}_2\text{H}_5\text{OH} + 2\text{Na} \rightarrow 2\text{C}_2\text{H}_5\text{ONa} + \text{H}_2 \uparrow
\]
Observation: Bubbles of hydrogen gas are seen during the reaction.
Step 2: Oxidation of Ethanol.
On oxidation with acidified potassium dichromate (K2Cr2O7), ethanol is oxidized to acetic acid.
\[
\text{C}_2\text{H}_5\text{OH} + [O] \xrightarrow{\text{K}_2\text{Cr}_2\text{O}_7/\text{H}_2\text{SO}_4} \text{CH}_3\text{COOH} + \text{H}_2\text{O}
\]
Step 3: Conclusion.
Ethanol exhibits the properties of alcohols by reacting with metals to form alkoxides and by oxidation to form carboxylic acids.