Which statement about novolac, the first-stage product in one route to bakelite, is correct?

1. AIt is made with excess formaldehyde under basic catalysis and is already cross-linked.
2. BIt is a fully cross-linked network that cannot be moulded.
3. CIt is a linear, low-molar-mass phenol-formaldehyde prepolymer made with excess phenol under acid catalysis, and it is cross-linked later by adding more formaldehyde or hexamethylenetetramine.
4. DIt is formed by chain-growth addition of phenol across the $\mathrm{C}=\mathrm{O}$ of formaldehyde without loss of water.