**Core Concept**
Plasmodium species, the causative agents of malaria, exhibit distinct morphological characteristics in the peripheral blood smear, which aid in their identification. The presence of all stages of schizonts with a specific number of merozoites and the appearance of yellowish-brown pigment (hemozoin) are crucial diagnostic features.

**Why the Correct Answer is Right**
The given description is characteristic of Plasmodium vivax, a species that typically exhibits a large number of merozoites (14-20) per schizont. The presence of all stages of schizonts indicates an active infection, and the yellowish-brown pigment is a result of the parasite's metabolic byproducts. This pigment is more pronounced in P. vivax infections due to the parasite's higher rate of hemoglobin degradation.

**Why Each Wrong Option is Incorrect**
* **Option A:** P. falciparum typically shows a small number of merozoites (4-6) per schizont, and the presence of all stages of schizonts is uncommon.
* **Option B:** P. ovale, similar to P. vivax, shows a large number of merozoites (8-12), but the schizonts are often smaller and more compact.
* **Option C:** P. malariae shows band or bar forms and a small number of merozoites (6-8) per schizont.

**Clinical Pearl / High-Yield Fact**
P. vivax is known for its ability to relapse from latent stages in the liver, even after successful treatment, due to the presence of hypnozoites.