Given below are two statements:
Statement I : Bt toxins are insect group specific and coded by a gene cry IAc.
Statement II : Bt toxin exists as inactive protoxin in B. thuringiensis. However, after ingestion by the insect the inactive protoxin gets converted into active form due to acidic pH of the insect gut.
In the light of the above statements, choose the correct answer from the options given below: