Step 1: Identify P from the tests.
P decolourises bromine water, gives a colour with neutral ferric chloride and dissolves in sodium hydroxide. These three tests together point to a phenol.
Step 2: Identify Q from the IR.
Two carbonyl bands near 1830 and 1750 wavenumbers are typical of an acid anhydride, so Q is acetic anhydride.
Step 3: Form R.
Phenol with acetic anhydride and base is acetylated to give phenyl acetate.
Step 4: Answer.
\[ \boxed{\text{C}} \]