Option 1 states that both Assertion (A) and Reason (R) are true, and R is the correct explanation of A.

Let`s analyze both statements:

Assertion (A) states that the five permanent members of the Security Council have been given the veto power. This statement is true. The five permanent members of the Security Council are China, France, Russia, the United Kingdom, and the United States, and they have the power to veto any resolution or decision made by the council.

Reason (R) states that since the concurrence of the five permanent members is essential, they can use veto power even in procedural matters. This statement is also true. The veto power of the permanent members allows them to block any decision of the Security Council, including procedural matters.

Therefore, both the Assertion and Reason are true and the Reason is indeed the correct explanation of the Assertion. The veto power granted to the five permanent members of the Security Council allows them to have significant influence and control over the decision-making process.