Which of the following statement(s) is/are correct about meiosis?
I. Meiosis involves pairing of homologous chromosomes and recombination between them.
II. Two diploid cells are formed at the end of meiosis-II.
III. Meiosis involves two sequential cycles of nuclear and cell division called meiosis-I and meiosis-II, but only a single cycle of DNA replication.
IV. Meiosis-I is initiated after the parental chromosome replication, which produces identical sister chromatids at the S-phase.