What are the provisioning profiles required for the Xcode?

As quoted by Apple:

A provisioning profile is a collection of digital entities that uniquely ties developers and devices to an authorized iPhone Development Team and enables a device to be used for testing.

A provisioning profile is an entity created from iTunesConnect for a particular certificate. It ties the Team ID to the devices on which the profile is installed to use all features eg. creating development builds for particular devices that were mapped with the Profile or create ad-hoc builds.

Each Development Provisioning Profile will contains:

• Development Certificates — development certificate. These are for developers who want to test the app on a physical device while writing code.
• Unique Device Identifiers (List of devices that the app can run on)
• an App ID (this can include a * wild card to be used for many applications with similar bundle identifiers). — An App ID is a two-part string used to identify one or more apps from a single development team.