Which of the following options shows the correct hierarchical level for selection and application of accounting policies in ascending order (4 being the first step)?

a. i. The management’s judgement if in line with the Conceptual Framework and the Shariah principles and rules ii. FAS on Similar Matters iii. Generally accepted accounting principles as applicable in the respective jurisdiction, insofar as these are not against the Conceptual Framework and Shariah principles and rules.

iv. FAS specifically addressing the respective transaction, other event or condition, or another pronouncement issued by AAOIFI.

b. i. FAS on Similar Matters.

ii. Generally accepted accounting principles as applicable in the respective jurisdiction, insofar as these are not against the Conceptual Framework and Shariah principles and rules.

iii. The management’s judgement if in line with the Conceptual Framework and the Shariah principles and rules.

iv. FAS specifically addressing the respective transaction, other event or condition, or another pronouncement issued by AAOIFI.

c. i. The management’s judgement if in line with the Conceptual Framework and the Shariah principles and rules.

ii. Generally accepted accounting principles as applicable in the respective jurisdiction, insofar as these are not against the Conceptual Framework and Shariah principles and rules.

iii. FAS on Similar Matters.

iv. FAS specifically addressing the respective transaction, other event or condition, or another pronouncement issued by AAOIFI.

d. i. FAS specifically addressing the respective transaction, other event or condition, or another pronouncement issued by AAOIFI.

ii. Generally accepted accounting principles as applicable in the respective jurisdiction, insofar as these are not against the Conceptual Framework and Shariah principles and rules.

iii. The management’s judgement if in line with the Conceptual Framework and the Shariah principles and rules.

iv. FAS on Similar Matters.