An important principle of management states that to control everything results in controlling nothing and hence only the significant deviations which go beyond the permissible limit should be brought to the notice of management. This principle is called:

Correct option is B

The statement describes a managerial control approach where only major deviations from expected performance are reported to top management. Minor or routine deviations are handled at lower levels.
This principle is known as Management by Exception (MBE).
Key idea of MBE:
· Managers should focus on significant deviations, not all variances.
· Time and effort of top management should be spent only on critical, unusual, or major issues.
· Routine matters should be handled automatically at lower levels.
Thus, the correct answer is: Option (b) Management by Exception