Miscellaneous confusion about Xcode build settings (64/32 bits, SDK version, etc)

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When I create a new OS X application project, I noticed many target options those confuse me quite a lot:


(1) The top-left setting of Xcode window: Top-left


(2) The "Base SDK": Base SDK


(3) "Deployment Target": Deployment Target


(4) Architectures: Architectures


Here comes my questions:

For (2) and (3), I think it was clearer to understand. These are what I comprehend:
(2) This identifies what I develop with.
(3) This identifies what OS version my application will be used on.
Please tell me whether I am right...

But I could not understand (1). I just know that if I select 32-bit here, I could not use ARC.

Neither with (4), what are they? Are they represent the bit-width of the CPU? What was the difference between (1) and (4)?

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