Step 1: Understanding the Concept:
Delegation of authority involves three key elements: Authority (the right to command), Responsibility (the obligation to perform), and Accountability (the answerability for the final outcome).
Step 2: Detailed Explanation:
Responsibility is defined as the obligation of a subordinate to properly perform the assigned task. It arises from the superior-subordinate relationship because the subordinate is bound to perform the duty assigned to them by their senior. While authority is delegated, responsibility is assumed.
Step 3: Final Answer:
The correct term is (c) Responsibility.