From the options given below, select the option which states the correct combination of correct sentences.
I. Rarely have policymakers encountered a situation in which inflationary pressures persist simultaneously with prolonged industrial stagnation and weakening consumer demand.
II. The report detailing the findings of the independent commission were submitted to the regulatory authorities after several procedural revisions had been incorporated.
III. Neither the financial regulators nor the central banking authority was willing to assume responsibility for the systemic oversight failures identified during the audit.
IV. The organization’s long-term sustainability depends not only on technological innovation but also on whether institutional transparency is maintained consistently across operational levels.