The best description of what's taking place is an indirect measurement of pH is taking place.
Option C is correct
The burette with base, flask with acid, and indicator (phenolphthalein), the setup points towards an indirect titration process to measure the pH of the acid solution.
The base is slowly added, and the indicator changes color at the endpoint when the equivalence point (neutral pH) is reached. By noting the volume of base used to reach this point, the unknown concentration of the acid can be calculated.