Chemistry · EQUILIBRIUM

Given below are two statements: Statement I: A conjugate acid has one extra proton and each conjugate base has one less proton. Statement II: According to the Bronsted-Lowry concept, \( \text{HCO}_3^- \) can act both as an acid and as a base. 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.