Concept:
Palaeoanthropology reconstructs the chronological and evolutionary lineage of the family Hominidae.
Major evolutionary milestones include habitual bipedalism, encephalization, technological development, and dental reduction.
This question requires placing key fossil hominin taxa in their precise chronological evolutionary order.
Step 1: Chronological Analysis of Pliocene Hominins:
Australopithecus: Thrived in East and South Africa from approximately $4.2$ to $1.9$ million years ago (mya). They exhibited fully bipedal locomotion but retained ape-sized cranial capacities ranging from $400\text{ to }500\text{ cc}$. They represent the earliest ancestral stage in this sequence.
Step 2: Chronological Analysis of the Genus Homo:
1. Homo habilis: Emerged around $2.4$ to $1.4\text{ mya}$ in East Africa. Known as the "handy man," this species represents the earliest maker of Oldowan stone tools and possessed an expanded cranial capacity of $600\text{--}750\text{ cc}$.
2. Homo erectus: Evolved around $1.9\text{ mya}$ and survived until approximately $110,000\text{ years ago}$. They were the first hominins to disperse out of Africa, control fire, and manufacture bifacial Acheulian handaxes, exhibiting brain sizes of $900\text{--}1100\text{ cc}$.
3. Homo sapiens: Modern humans emerged anatomically in Africa around $300,000\text{ years ago}$, characterized by advanced symbolic behavior, complex language, and a mean cranial volume of $1350\text{--}1450\text{ cc}$.
Step 3: Final Answer:
The chronological evolutionary sequence from earliest to latest is:
Australopithecus $\rightarrow$ Homo habilis $\rightarrow$ Homo erectus $\rightarrow$ Homo sapiens.
Therefore, Option (D) is the correct choice.