To solve this problem, we need to analyze the given statements:$\newline$Statement I: The codon ‘AUG’ codes for methionine and phenylalanine.$\newline$Statement II: ‘AAA’ and ‘AAG’ both codons code for the amino acid lysine.$\newline$Let's break down each statement:$\newline \bullet$Statement I:$\newline$ - The codon ‘AUG’ is known as the start codon and it codes for the amino acid methionine.$\newline$ - It does not code for phenylalanine.$\newline$ - Therefore, Statement I is incorrect.$\newline \bullet$Statement II:$\newline$ - The codons ‘AAA’ and ‘AAG’ both code for the amino acid lysine.$\newline$ - This is correct according to the genetic code.$\newline$ - Therefore, Statement II is true.$\newline$Based on the analysis, the correct answer is:$\newline$Option 4: Statement I is incorrect but Statement II is true.