This question seeks understanding of the human digestive system.

Option 1: I only - This option suggests that the common bile duct releases its content into the stomach, which is incorrect. The common bile duct actually carries bile from the liver and gallbladder into the duodenum, not the stomach.

Option 2: II only - The pancreatic duct does, in fact, release its contents into the duodenum. The pancreatic duct carries digestive enzymes produced by the pancreas directly into this initial segment of the small intestine. This is the correct answer.

Option 3: Both I and II - Given that statement I is incorrect, this option is also incorrect.

Option 4: Neither I nor II - This statement would suggest that both statements are incorrect. However, as discussed above, statement II is accurate. Therefore, this option is also incorrect.

The pancreatic duct and the common bile duct both release their contents into the duodenum assisting in the digestion and absorption of nutrients within food.