Step 1: Understanding the Concept:
The early sessions of the Indian National Congress were led by prominent "Moderate" or "Early Nationalist" leaders.
Step 2: Detailed Explanation:
The second session of the INC was held in Calcutta in 1886.
It was presided over by Dadabhai Naoroji. Naoroji, known as the "Grand Old Man of India," was a central figure in the early nationalist movement and also formulated the "Drain of Wealth" theory.
Gopal Krishna Gokhale presided over the 1905 session. Bipin Chandra Pal and Lokmanya Tilak were Assertive Nationalists who rose to prominence later.
Step 3: Final Answer:
Dadabhai Naoroji presided over the second INC session.
Hence, the correct option is (A).