The word "hoarding" has different meanings based on context:
• As a noun, "hoarding" refers to the practice of accumulating and storing goods excessively, often due to fear of shortage (Sentence I).
• As a noun, "hoarding" also refers to a large billboard or sign used for advertising (Sentence II).
• In Sentence III, "hoarding" is incorrectly used. The correct verb should be "stacking" or "arranging" since "hoarding" implies excessive accumulation in a disorderly manner rather than neatly organizing items.
Since only sentences I and II correctly use "hoarding," the correct answer is option (c).