Given below are two statements:
Statement I : Financial management helps the organisation to survive and sustain itself by preventing misuse and wastage of funds.
Statement II : Physical education and sports programmes can never be effective, if there is no sound financial management.
In the light of the above statements, choose the correct answer from the options given below:
1
Both Statement I and Statement II are true.
2
Both Statement I and Statement II are false.
3
Statement I is true but Statement II is false
4
Statement I is false but Statement II is true