Alternatively you could try using the CHOOSE function. That is if your options are sequential numbers starting at 1.
e.g answer = choose(columnvalue, valuefor1, valuefor2, valuefor3,....)
in your instance
NameOfLabel.Caption = choose(txtStatus,"B","A","B","B","A","A","B"
Even better still if you use a combobox and put the status values in a table you can put some code in the combobox's AfterUpdate event to set the Caption. e.g.
NameOfLabel.Caption = cbStatus.column(2)
If the combobox has 3 columns (the index starts at 0) and the first is the Code for the Status i.e 1,2,3... and the second is the description and the third is the value you want tot set the caption to.