Which of the following statements best summarizes the necklace?
a. a woman who wants to make a good impression goes to a dance.
b. an expensive necklace is lost and needs to be replaced.
c. a woman buys an expensive dress and borrows a diamond necklace.
d. in pursuit of social recognition, a woman is driven to financial ruin.

I would say D because it summarizes the entire story in just one sentence. At the beginning of the story, the narrator tells us how she longed to be recognized (the beginning of D), and at the end she was in financial ruin (end of answer D) because of the necklace she borrowed, lost, and replaced (which she did because she wanted to be recognized). So I would say D is your correct answer. Hopefully all that made sense.