Distinguish the characteristics for Chondrichthyes (Cartilaginous fishes) and Osteichthyes (Bony fishes) from the following list:
$I$ - Air bladder absent,$II$ - Operculum absent,$III$ - Cycloid or ctenoid scales,$IV$ - Placoid scales,$V$ - Ventral mouth,$VI$ - Terminal mouth,$VII$ - Internal fertilization,$VIII$ - External fertilization.
Select the correct grouping for Chondrichthyes and Osteichthyes respectively.

• A
  $I, II, IV, V, VII \quad III, VI, VIII$
• B
  $I, II, III, V, VII \quad IV, VI, VIII$
• C
  $II, IV, V, VIII \quad I, III, VI, VII$
• D
  $I, II, III, VI, VIII \quad IV, V, VII$