Step 1: Understand the assertion:
Light travels at a finite speed of about \( 3 \times 10^{8} \) m/s.
Stars are very far away, often many light years.
So the light reaching us left the star long ago, and we see the star as it was then.
Assertion (A) is true.
Step 2: Understand the reason:
Reason (R) says that the light we see now started its journey millions of years back.
For distant stars and galaxies this is a fact, because the distance is covered by light only after a very long time.
Reason (R) is true.
Step 3: Link the two statements:
The assertion says we look into the past. The reason gives the cause: old light is arriving now.
So (R) explains (A) directly.
Step 4: Why the other codes are wrong:
(B) says R is not the explanation, but it is the exact explanation.
(C) says R is false, and (D) says A is false. Both statements are true, so these are wrong.
Final Answer:
Both statements are true and R explains A, so the answer is (A).
\[ \boxed{\text{(A)}} \]