A constructive obligation arises when an entity has:

I. Established a pattern of past practices in response to particular events.

II. Published policies or specific statements concerning a particular event.

III. Indicated to certain parties that it will accept certain responsibilities regarding a particular event.

IV. Created a valid expectation to certain parties that it will discharge its responsibilities with respect to a particular event.

Which of the above statements is correct?

A.I or II only;

B.I or II, and III only

C.I and III only;

D.I,II,III and IV