Concept:
Phosphorus is an essential element required for the formation of nucleic acids, ATP, phospholipids and several biological molecules.
Unlike carbon and nitrogen cycles, the phosphorus cycle does not involve a significant gaseous phase. The major reservoir of phosphorus is found in rocks.
Step 1: Understand the phosphorus cycle.
Phosphorus exists mainly in the form of phosphate minerals in sedimentary rocks.
Weathering of rocks gradually releases phosphate ions into the soil.
Step 2: Movement through ecosystem.
Plants absorb phosphate ions from soil.
Animals obtain phosphorus through food chains.
After death and decomposition, phosphorus returns to soil and sediments.
Step 3: Identify the major reservoir.
Although oceans, rivers and lakes contain dissolved phosphates, they are not considered the principal natural reservoir.
The largest long-term storage of phosphorus occurs in phosphate-bearing rocks.
Step 4: Final conclusion.
\[
\boxed{\text{Rock}}
\]
is the natural reservoir of phosphorus.
Hence option (C) is correct.