The correct answer is A because put-call-forward parity for European options is defined as follows: the put price plus the underlying price equals the call price plus the present value of the exercise price. Rearranged, this equation becomes: the present value of the exercise price plus the call price equals the put price plus the underlying price. This aligns with the description in option A.

• Option B is incorrect because it misrepresents the relationship by incorrectly rearranging the terms of the put-call-forward parity equation.
• Option C is also incorrect as it describes an invalid rearrangement of the parity equation, which does not hold under the principles of put-call-forward parity.