Option 1 -> Management of Cash: Cash is a current asset and a key component of working capital management, involving liquidity planning and cash flow optimization.
Option 2 -> Management of non-current assets: Non-current assets (fixed assets like property, plant, equipment) are long-term investments managed under capital budgeting, not working capital management.
Option 3 -> Management of Bills Receivable: Bills receivable are current assets representing short-term credit instruments, forming part of working capital management.
Option 4 -> Management of Debtors: Debtors (accounts receivable) are current assets requiring active credit and collection management as part of working capital.
Hence, Option 2: Management of non-current assets -> Working capital management focuses exclusively on current assets and current liabilities (short-term items). Non-current assets are long-term investments managed separately under capital budgeting and fixed asset management decisions -> correct