The question asks to match a list of islands with the corresponding countries they belong to. The four islands given in List-I are Baffin, Celebes, Greenland, and Luzon, while the countries listed in List-II are Canada, Denmark, Indonesia, and the Philippines.

Option 1 states that Baffin is in Canada, Celebes is in Denmark, Greenland is in Indonesia, and Luzon is in the Philippines. This is incorrect because Greenland belongs to Denmark, not Indonesia.

Option 2 states that Baffin is in the Philippines, Celebes is in Denmark, Greenland is in Indonesia, and Luzon is in Canada. This is also incorrect as the answers for Baffin and Luzon are swapped.

Option 3 states that Baffin is in Canada, Celebes is in Indonesia, Greenland is in Denmark, and Luzon is in the Philippines. This is the correct answer as it matches each island with the correct country.

Option 4 states that Baffin is in the Philippines, Celebes is in Indonesia, Greenland is in Denmark, and Luzon is in Canada. This is incorrect as the answers for Baffin and Luzon are swapped.

Therefore, the correct answer is option 3.