Given below are two statements:

Statement I: The vice-chancellor of a university is an executive head who is vested with administrative as well as academic responsibilities.

Statement II: For a charismatic leadership attribute in a vice-chancellor both transactional as well as transformational leadership competencies are needed.

In the light of the above statements, choose the correct answer from the options given below:

1
Both Statement I and Statement II are true
2
Both Statement I and Statement II are false
3
Statement I is correct but Statement II is false
4
Statement I is incorrect but Statement II is true

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