0.5 g bleaching powder was suspended in water and excess KI is added. On acidifying with dil. `H_(2)SO_(4), I_(2)` was liberated which required 50 mL of `N//10` hypo `(Na_(2)S_(2)O_(3). 5H_(2)O)` in presence of starch. The reactions involved are :
I. `CaOCl_(2)+H_(2)SO_(4) to CaSO_(4) to CaSO_(4)+H_(2)O +Cl_(2)`
II. `2KI+Cl_(2) to 2KCl+I_(2)`
III. `2Na_(2)S_(2)O_(3)+I_(2) to Na_(2)S_(4)O_(6)+2NaI`
In reaction (II), `Cl_(2)` acts as :
A. reducing agent
B. oxidising agent
C. indicator
D. both oxidising agent and indicator