Given two statements:
Statement I: Bohr's theory accounts for the stability and line spectrum of Li+ ion.
Statement II : Bohr's theory was unable to explain the splitting of spectral lines in the presence of a magnetic field.
In the light of the above statements, choose the most appopriate answer from the following options given below:
Option: 1 Both statement I and Statement II are true.
Option: 2 Statement I is true and Statement II is false
Option: 3 Both statement I and Statement II are false
Option: 4 Statement I is false and Statement II is true