Which of the following statements is correct in relation to Shakespeare's works?

Correct option is B

Explanation:

The quartos were small, individually printed editions of Shakespeare's plays, many of which were published during his lifetime (1564–1616).
The First Folio, a collected edition of Shakespeare's works, was published posthumously in 1623 by John Heminge and Henry Condell, Shakespeare's colleagues.
The First Folio is considered one of the most important publications in English literature as it preserved 36 of his plays, 18 of which were not published in quarto form earlier.

Information Booster:
About the Quarto Editions:
Quarto refers to the size of the book, derived from folding a single sheet of paper into four leaves. 
Many quartos were published without Shakespeare's permission, leading to inconsistencies.
About the First Folio:
Title: Mr. William Shakespeare's Comedies, Histories, & Tragedies.
Published: 1623. Compiled by John Heminges and Henry Condell. Dedicated to "William Herbert", the third earl of Pembroke, and his brother "Philip Herbert", Earl of Montgomery.
Includes 36 plays but excludes works like Pericles.
Significance of the Editions:
Quartos allowed widespread access to Shakespeare's plays during his life.
The Folio preserved Shakespeare's legacy and standardized the texts.