Accounting standard-setters use the following process in establishing accounting standards:

a. Research, exposure draft, discussion paper, standard.

b. Discussion paper, research, exposure draft, standard.

d. Research, discussion paper, exposure draft, standard.

Accounting standard-setters such as International Accounting Standards Board, use the following process in establishing accounting standards:

Research-discussion paper-exposure draft - standard

As a result, option D is correct.

Explanation:

When a new standard is envisaged, rigorous research is undertaking, followed by the call for experts to submit discussion papers from exposure draft is crafted before a standard is finalized.