Select one of the following statements that best describes the parity method of error detection:

• Parity checking is best suited for detecting single-bit errors in transmitted codes.
• Parity checking is best suited for detecting double-bit errors that occur during the transmission of codes from one location to another.
• Parity checking is not suitable for detecting single-bit errors in transmitted codes.
• Parity checking is capable of detecting and correcting errors in transmitted codes.