Which of the following statements is/are correct?

Rule is a specific statement that prescribes what is to be done or not to be done.

The correct answer is option 1 i.e.rule is a specific statement that prescribes what is to be done or not to be done.

* Rule is a specific statement that prescribes what is to be done or not to be done- This statement is true. Rules are specific statements that inform what is to be done. They do not allow for any flexibility or discretion. It reflects a managerial decision that a certain action must or must not be taken. They are usually the simplest type of plans because there is no compromise or change unless a policy decision is taken. 

* Rule is the prescribed way or manner in which a task has to be performed considering its objectives- This statement is false. Methods provide the prescribed ways or manner in which a task has to be performed considering the objective. It deals with a task comprising one step of a procedure and specifies how this step is to be performed.

* Identifying alternative courses of action is a step in organising process- This statement is false. Identifying alternative courses of action is a step in Planning process.

* Method is a chronological sequence in which an activity should be performed- This statement is false. Procedures are routine steps on how to carry out activities. They detail the exact manner in which any work is to be performed. They are specified in a chronological order.