Biology · BIODIVERSITY AND CONSERVATION

Given below are two statements: Statement I: The number of fungi species in the world is more than the combined total of the species of fishes, amphibians, reptiles, and mammals. Statement II: Insects are the most species-rich taxonomic group among animals, making up more than 70 percent of all animal species. In the light of the above statements, choose the most appropriate answer from the options given below:

1. Both Statement I and Statement II are correct.
2. Both Statement I and Statement II are incorrect.
3. Statement I is correct but Statement II is incorrect.
4. Statement I is incorrect but Statement II is correct.