Final answer:
Option (c), Homologous chromosomes exchange genetic material during meiosis through a process called crossover, which contributes to genetic diversity in gametes.
Step-by-step explanation:
The correct answer to which statement about homologous chromosomes is correct is c) They exchange genetic material during meiosis. Homologous chromosomes refer to pairs of chromosomes that possess the same genes in the same linear order, but may have different alleles for those genes since one comes from each parent.
During prophase I of meiosis, homologous chromosomes replicate, synapse, and then undergo a process known as crossover or recombination. During crossover, segments of genetic material are exchanged between the chromatids of homologous chromosomes. This shuffling of alleles ensures genetic diversity in gametes and hence, in offspring.
It is also important to remember that homologous chromosomes are responsible for the inheritance of traits, can be found in both sex and non-sex cells such as somatic cells, and they are not identical in their genetic information.