Organic Compounds Containing Oxygen: JEE Main 2026 Chemistry question

Consider the following reaction sequence: Compound (x) [76.6% C, 6.38% H, vapour density 47] $\xrightarrow[\text{(ii) }\mathrm{H_3O^+}]{\text{(i) }\mathrm{CO_2},\ \mathrm{NaOH},\ 120^\circ\mathrm C,\ \text{high pressure}}$ Compound (y) (Major Product). Compound (y) develops characteristic colour with neutral $\mathrm{FeCl_3}$ solution. Identify the INCORRECT statement from the following for the above sequence.