Final answer:
Version control is a method that documents different versions of a program, allowing developers to track and manage changes over time, which is crucial for team collaboration in software development.
Step-by-step explanation:
Version control is a system that helps teams manage changes to source code over time. The correct answer to the question is 1) A method of organization that documents old and new copies of a program. Version control systems keep track of every modification to the code in a special kind of database. If a mistake is made, developers can turn back the clock and compare earlier versions of the code to help fix the mistake while minimizing disruption to all team members.
Version control is imperative for software development where multiple people are working on the same codebase. It allows multiple developers to work on the same project without conflicting changes, provides a history of all changes made, and facilitates collaboration. Git, for example, is a widely-used version control system for tracking changes in source code during software development.