Option-1: Both the statements are individually true and statement II is the correct explanation of statement I. This option contradicts the given correct answer. While statement I is false, statement II is true.

Option-2: Both the statements are individually true but statement II is not the correct explanation of statement I. This option is the correct answer.

Option-3: Statement I is true, but statement II is false. This option contradicts the given correct answer. While statement I is false, statement II is true.

Option-4: Statement I is false, but statement II is true. This option is the correct answer.

The correct answer is option 4 because statement I, which states that all liquids are conductors of electricity, is false. Not all liquids are conductors of electricity. Statement II, which states that under the condition of low pressure and high voltage, liquids can be made conducting, is true. In certain conditions, such as low pressure and high voltage, some liquids can become conductors of electricity. Therefore, option 4 is the correct answer.