The correct option is A True
In an electrolytic setup anode is the place where oxidation takes place and cathode is the place where reduction takes place. O−2 looses two electrons at the anode to form oxygen, where as H+ gain electron at the cathode to form hydrogen gas.
Oxidation is nothing but loss of electrons and reduction is nothing but gain of electrons.
Electrolysis of water gives oxygen (O2) gas at anode and hydrogen (H2) gas at cathode and it can be separated and stored in cylinders