The theory based on the idea that the best managerial actions in a given situation depend on the elements of that situation is known as:

A. the equifinality theory.

B. Theory X and Y.

C. the contingency approach.

D. the systems theory.

E. quantitative management.

C. the contingency approach

Explanation:

The contingency approach -

According to this concept, there is not proper and precise set of rules and regulations for the management principles of the organisation, is referred to as the contingency approach.

It is also called, situational approach.

As, the condition or the situation only plays a significant role, because the management changes according to the situation of the scenario.

Hence, from the information of the question,

The correct option is C. the contingency approach.