Which of the following statements about delegation is /are correct? 1. It is the abdication of responsibility. 2. It means conferring of specified authority by a lower authority to a higher one. 3. It is subject to supervision and review. 4. It is a method of dividing authority in the organization. Select the correct answer using the code given below.

Delegation is the process of assigning specific tasks and authority to subordinates while the delegator retains overall responsibility. Statement 1 is incorrect because delegation is not an abdication of responsibility; the superior remains accountable for the outcome. Statement 2 is incorrect because delegation typically involves a higher authority conferring power to a lower authority (downward), though it can occasionally be sideward or upward in specific contexts, but it is not defined as lower to higher. Statement 3 is correct as the delegator retains the power of inspection, supervision, control, and review. Statement 4 is correct because delegation is a fundamental method of dividing authority and workload within an organization to ensure efficiency and coordination. Therefore, only statements 3 and 4 are correct.