Step 1: Evaluating the correct matches for each component:
Ferrous metals (P): These are best separated using magnetic separators, hence match with option iv.
Aluminum and copper (Q): These non-ferrous metals can be separated effectively using eddy current separators, hence match with option iii.
Food waste (R): It is typically treated using rapid composting, hence match with option ii.
Cardboard (S): It is usually disposed of or treated using incineration, hence match with option i.
Step 2: From the analysis above, the correct matching is:
\[
P \rightarrow iv, \quad Q \rightarrow iii, \quad R \rightarrow ii, \quad S \rightarrow i
\]
Conclusion: The correct answer is option (B).