Final answer:
The American Library Association annually awards the Newbery Award to the most distinguished text/story-line in an American children's book.
Step-by-step explanation:
The award the American Library Association gives annually to the book containing the most distinguished text/story-line is the Newbery Award. Unlike the Nobel Prize in Literature, which is an international award for a lifetime of literary work, or the Pulitzer Prize, which recognizes outstanding works in literature, journalism, and music, the Newbery Award is specifically for American authors of children's books with the most distinguished contribution that year.
The Newbery Medal is not to be confused with the Caldecott Medal, which is another prestigious American award presented to the artist of the most distinguished American picture book for children. Therefore, the correct answer to the question is B. Newberry Award.