Step 4: Eliminate incorrect options. Efflux of K$^+$ ions out of the cell makes the membrane potential more negative, which is characteristic of repolarization, not depolarization. Opening of voltage-gated Ca$^{2+}$ channels is associated with neurotransmitter release, not depolarization. The Na$^+$/K$^+$ pump restores the resting membrane potential after the action potential, not during depolarization.