Consider below statements with respect to Euler's column theory and identify correct answer.

Statement A : The effect of direct stresses are neglected in the equation derived by Euler which is used study the stability of long columns.

Statement B : Euler's formula can be used in the case of short columns.

1
Statement A is correct and B is incorrect
2
Both statements are incorrect
3
Both statements are correct
4
Statement B is correct and A is incorrect

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