Phenol is a highly activated compound and can undergo bromination directly with bromine without any Lewis acid. However, the Lewis acid catalyst indeed polarises the bromine to generate Br+, making Statement II true.
Thus the correct answer is Option 4.
\( \text{M} \xrightarrow{\text{CH}_3\text{MgBr}} \text{N} + \text{CH}_4 \uparrow \xrightarrow{\text{H}^+} \text{CH}_3\text{COCH}_2\text{COCH}_3 \)