The question requires matching events in historical geological eras to the prevalent life forms of those periods. To do this accurately, knowledge of what characterized each era in terms of biodiversity is essential. Here's a breakdown:

• Mesozoic Era (A): This era, often called the "Age of Reptiles," is renowned for its diverse reptilian species, including the dinosaurs, and also saw the emergence of birds from theropod dinosaurs. Hence, Mesozoic Era matches with "Birds & Reptiles (III)".
• Proterozoic Era (B): The Proterozoic Era is part of the Precambrian period, characterized by the rise of simple, mostly unicellular life, including the first complex eukaryotic cells and multicellular forms like the Ediacara biota. Therefore, it should match with "Lower invertebrates (I)".
• Cenozoic Era (C): Known as the "Age of Mammals," this period saw mammals diversifying after the extinction of the dinosaurs at the K-T boundary (the transition from Mesozoic to Cenozoic). Therefore, Cenozoic Era matches with "Mammals (IV)".
• Paleozoic Era (D): During the Paleozoic Era, marine life flourished, and vertebrates began to emerge, including fishes and the first tetrapods (amphibians). Thus, Paleozoic Era corresponds to "Fish & Amphibia (II)".

Therefore, the correct matching based on the information given would be:

Option D: A-III, B-I, C-IV, D-II. This option accurately aligns each era with the dominant life forms characterized within those eras.