The correct option is C (a) - (iii), (b) - (i), (c) - (iv), (d) - (ii)
Cork cambium is also known as phellogen. It is a meristematic tissue that usually develops in the cortical region in dicots.
It cuts off cells on both sides.
The outer cells differentiate into cork or phellem which is impervious to water due to deposition of suberin in the cell wall.
The inner cells differentiate into secondary cortex or phelloderm.
The phellogen cuts off closely arranged parenchymatous cells on the outer side instead of cork cells at certain regions. These parenchymatous cells soon rupture the epidermis and form lens-shaped openings called lenticels. Lenticels allow the exchange of gases between the outer atmosphere and the internal tissue of the stem.