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