Redox Reactions

Given below are two statements: one is labelled as Assertion A and the other is labelled as Reason R.
Assertion A: Phenolphthalein is a pH dependent indicator, remains colourless in acidic solution and gives pink colour in basic medium.
Reason R: Phenolphthalein is a weak acid. It doesn't dissociate in basic medium.
In the light of the above statements, choose the most appropriate answer from the options given below.