Question : Assertion: The primary objective of management is to maximize profits.
Reason: Financial success is the ultimate goal of any organization.
Option 1: Both assertion and reason are correct, and the reason explains the assertion.
Option 2: Both assertion and reason are incorrect.
Option 3: The assertion is correct, but the reason is incorrect.
Option 4: The assertion is incorrect, but the reason is correct.
Option 5: Both assertion and reason are correct, and the reason is not the correct explanation of the assertion.
Correct Answer: Both assertion and reason are correct, and the reason is not the correct explanation of the assertion.
Solution : The correct answer is (e) Both assertion and reason are correct, and the reason is not the correct explanation of the assertion.
The assertion that "The primary objective of management is to maximize profits" is correct. In many business contexts, maximizing profits is often seen as one of the primary objectives of management because it is essential for the financial health and sustainability of the organization.
The reason provided, "Financial success is the ultimate goal of any organization," is not entirely accurate. While financial success is important for many organizations, it's not the sole objective. Different organizations may have various goals and objectives, including non-profit organizations, government agencies, and social enterprises. Their objectives can extend beyond pure financial success and include providing services, achieving social impact, or fulfilling their mission.
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