Which of the following statements are true/false?
1. Trusteeship theory is also known as paternalistic theory.
2. The Philanthropic theory is based on the fact that man is a religious being.
3. The Functional theory is also known as efficiency theory.
4. Efficiency theory assumes that big business houses have the social responsibility and moral obligations of providing good working conditions.

A. 1, 4 are true and 2, 3 are false

B. 1, 3 are true and 2, 4 are false

C. 2, 4 are true and 1, 3 are false

D. 3, 4 are true and 2, 1 are false

Answer: Option B