With reference to 'circular letters', which of the following statements is/are correct?
1. Circular letters are usually addressed to a group of people.
2. Non-standard and customized content is typical of circular letters.
3. Circular letters are used to intimate appraisals and increments of employees within organisations.
4. Circular letters are less cost-effective than personalised and specific recipient-directed letters.

Select the answer using the code given below.

Correct Option: (d) 1 only

Circular letters are formal written communications distributed to a large, generalized group of people rather than a single specific individual. Thus, statement 1 is correct. Circular letters typically contain standard, uniform, and non-customized content since they are meant for mass communication, which makes statement 2 incorrect. Statement 3 is incorrect because individual appraisals, promotions, and increments are confidential and personalized matters, not communicated via circulars. Statement 4 is incorrect because circular letters are highly cost-effective compared to individual personalized letters due to economies of scale in mass distribution. Therefore, only statement 1 is correct, making option (d) the right choice.