Given below are two statements:

Which of the following statement/s is/are correct with respect to virtual memory

Statement I: Address translation is performed for every logical address used during the execution of a program

Statement II: A program can execute only when all of its components are loaded in the memory

In the light of the above statements, choose the most appropriate answer from the options given below. 

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

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