Final answer:
The component of working memory that is responsible for verbal and auditory information is the phonological loop. It is involved in the temporary storage and rehearsal of speech-based material.
Step-by-step explanation:
The component of working memory that is responsible for verbal and auditory information is the phonological loop. According to Baddeley and Hitch's working memory model, the phonological loop is one of the three short-term systems that store different forms of information. It is specifically involved in the temporary storage and rehearsal of speech-based material, such as words or numbers. The other components of working memory include the visuospatial sketchpad and the episodic buffer, which are responsible for visual and spatial information and the integration of information from different sources, respectively.