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B
Statement 2 is correct
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C
Both 1 and 2 are correct
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D
Neither 1 nor 2 is correct
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Solution
The correct option is C Both 1 and 2 are correct Formic acid is unique because it contains both an aldehyde group and carboxyl group also. Hence it can act as a reducing agent. It reduces Tollens reagent. But acetic acid has no aldehydic group hence it does not reduces Tollens reagent.