The primary aim of financial management is:

Option 1 -> Profit maximisation is a short-term goal that ignores the timing of returns, risk factors, and doesn't consider the time value of money.

Option 2 -> Personal wealth maximisation refers to managers' own wealth, which creates agency problems and conflicts with organizational objectives.

Option 3 -> Social wealth maximisation is a broader societal goal but not the primary objective of financial management in a business context.

Option 4 -> Shareholder's wealth maximisation is the modern approach that considers long-term value creation, risk-adjusted returns, and time value of money.

Hence, Option 4: Maximisation of shareholder's wealth -> This is the primary aim as it focuses on maximizing the market value of shares, considers both short and long-term gains, incorporates risk and time value of money, and aligns with the fundamental goal of financial management -> correct