Laterite soils are formed in areas of:

Low rainfall
High rainfall and alternating wet-dry seasons
Cold climates
Low agricultural potential

The correct answer is: B) High rainfall and alternating wet-dry seasons.

Laterite soils are formed in areas with high rainfall and alternating wet-dry seasons. The high rainfall causes the leaching of soluble minerals from the soil, leaving behind a layer of iron and aluminum oxides. The alternating wet-dry seasons cause the soil to crack, which allows the iron and aluminum oxides to be concentrated on the surface.

Option A is incorrect because low rainfall does not cause the leaching of soluble minerals from the soil.

Option C is incorrect because cold climates do not have high rainfall.

Option D is incorrect because laterite soils can be used for agriculture, but they require special management techniques.