Lightning Platform Apex Limits: - Daily and concurrent limits on asynchronous executions, scheduled jobs, batch jobs, and test class queues. - Ensures platform-wide resource fairness over time.

Static Apex Limits: - Fixed limits on code size, number of classes, triggers, and other static resources.

Option C is correct because the Approval Process is specifically designed to automate multi-step approval workflows requiring sequential approvals, such as manager and executive reviews. Workflow Rules (Option A) and Process Builder (Option B) cannot handle multi-step approvals with complex routing. Flow Builder (Option D) can automate many processes but is not the standard tool for structured approval processes.

Option C is correct because a single page layout can be assigned to multiple record types for the same profile, allowing flexibility in UI design. Option A is incorrect because record types control picklist values and business processes, not field visibility; field visibility is controlled by page layouts and field-level security. Option B is incorrect because page layouts are assigned by profile and record type combinations, not independently. Option D is incorrect because record types are used for both standard and custom objects.