I think it is D
11000011
01001100
………………...
(1) 00001111 with Carry =1 (specified in bracket )
The zero flags will be set if the result is 0 . but here the result is not 0 so the zero flag is set to 0
For overflow, we have a condition of $C=C_{out} \oplus C_{in}$
where Carry out is carry from MSB (bit 8 ) // taking byte as from bit1 to bit 8
Carry in carry from bit 7
So carry out = 1
carry in 1
so the exor of both of them is 0 --- which will carry a flag
So option d
carry flag - 1sum -- 0 overflow is 0