Statement I: The hybrid orbitals of carbon in acetylene are believed to be the sp form
Because
Statement II: Acetylene is a linear compound with a triple bond between the carbons
They use the 2s electron and one of the 2p electrons, but leave the other 2p electrons unchanged. The new hybrid orbitals formed are called sp hybrids, because they are made by an s orbital and a single p orbital reorganising themselves.