Step 1: Evaluate Statement I. Bohr's theory is applicable only to single-electron species (H, \(He^+\), \(Li^{2+}\), \(Be^{3+}\)). \(Li^+\) has 2 electrons, so Bohr's theory cannot explain its stability or spectrum. (Statement I is False).
Step 2: Evaluate Statement II. Bohr's theory could not explain the Zeeman effect (splitting in magnetic fields) or the Stark effect (splitting in electric fields). (Statement II is True).