Correct Answer: Both assertion and reason are incorrect.

Solution : The correct answer is (b) Both assertion and reason are incorrect.

The assertion that "Effective management involves a top-down approach, where decisions flow from top-level management to lower levels" is not entirely correct. Effective management can involve a variety of decision-making approaches, including top-down, bottom-up, and collaborative decision-making, depending on the organization's culture, structure, and the nature of the decision.

The reason provided, "Top-level managers have the most experience and knowledge to make crucial decisions," is also not entirely correct. While top-level managers may have more experience, they do not always have the most knowledge about specific operational issues or areas. Decisions often benefit from input from individuals at different levels of the organization who have specialized expertise.