Correct Option
Statement 1 is correct. Article 324 of the Constitution vests the superintendence, direction, and control of the preparation of electoral rolls for, and the conduct of, all elections to Parliament and to the Legislature of every State and of elections to the offices of President and Vice-President in the Election Commission.
Statement 2 is correct. The Election Commission is responsible for the preparation and periodic revision of electoral rolls for elections to Parliament, State Legislatures, and the offices of President and Vice-President.
Statement 3 is correct. The Election Commission grants recognition to political parties and allots election symbols, a power derived from the Election Symbols (Reservation and Allotment) Order, 1968.
Incorrect Options
Statement 4 is incorrect. The Election Commission does not proclaim the final verdict in election disputes. Such disputes are adjudicated by the High Courts, with appeals lying to the Supreme Court, as per the provisions of the Representation of the People Act, 1951.
Option (B) is incorrect because it includes statement 4, which is not a function of the Election Commission.
Option (C) is incorrect because it omits statement 2, which is a correct function of the Election Commission.
Option (D) is incorrect because it includes statement 4, which is not a function of the Election Commission.