Final answer:
Option (A), The I/O and Latency settings are located under the 'Audio' tab in Preferences, where one can adjust interface, buffer size, and sample rate settings for optimal project performance.
Step-by-step explanation:
The I/O (Input/Output) and Latency settings can usually be found under the Audio tab in Preferences of audio production software. In this tab, you can adjust settings related to your audio interface, buffer size, sample rate, and overall latency. These settings are critical for ensuring that your audio projects have minimal delay and run smoothly.