Final answer:
In meiosis II, sister chromatids separate during Anaphase II. This leads to four genetically diverse haploid cells, each with one set of chromosomes.
Step-by-step explanation:
The event that occurs in meiosis II is that sister chromatids of each chromosome are pulled apart. This phase is known as Anaphase II, where the sister chromatids are separated by the kinetochore microtubules and move toward opposite poles of the cell. It is distinct from meiosis I, wherein homologous chromosomes are separated. During meiosis II, the sister chromatids, which were duplicated during the S phase prior to meiosis I, are finally divided such that each daughter cell receives only one set of chromatids. This leads to the formation of four genetically diverse haploid cells by the end of meiosis.