The correct option is C Liberation of O2, formation of ATP, and NADPH take place
Light reactions or the ‘photochemical’ phase include light absorption, water splitting, oxygen release. The splitting of water is associated with the PS II - water is split into H+, [O] and electrons. This creates oxygen, one of the net products of photosynthesis and the formation of high-energy chemical intermediates, ATP and NADPH. The light reactions capture energy from sunlight, which they change to chemical energy that is stored in molecules of NADPH and ATP.