The given statement is true for all. We cannot say it is true for anyone particular. Any person who is being respected by everyone is honest.
“If everyone respect somebody then that person is honest”
Here this somebody is like true for all.
In option A, it is saying that there exists a person, if everyone respects him, he is honest.
It is like, if everyone respects Ram, he is honest. but given statement is true for Ram ,Shyam, Gita and Sita(for all).
In option B, among all people, if there is someone who is being respected by all, then he is honest.