Trying to run:

1>xp_cmdshell "/qa/test -version"
2> go

Gives an error " Unable to exec Executable Program: /qa/test"

test is our own executable.

XP server is up and running. Other executables work from xp_cmdshell.
The same command works from command line also.

What could be the reason ? Am I missing setting of any permisssions or environment variables or any configuration parameter needs to be set ?