The correct statement is option 1: "Acceleration due to gravity decreases with the increase of altitude."

Let`s dissect each option to understand why option 1 is correct and the other options are not:

Option 1: Acceleration due to gravity decreases with the increase of altitude. This statement is correct. As you go higher in altitude, away from the Earth`s surface, the gravitational pull becomes weaker, and therefore, the acceleration due to gravity decreases.

Option 2: Acceleration due to gravity increases with the increase of depth [assuming the Earth to be a sphere of uniform density]. This statement is incorrect. In reality, as you go deeper into the Earth, the increase in mass closer to the center cancels out the decrease in distance from the center, resulting in a relatively constant acceleration due to gravity.

Option 3: Acceleration due to gravity decreases with the increase of latitude. This statement is incorrect. The acceleration due to gravity is not dependent on latitude. It may vary slightly due to the Earth`s shape and rotation, but the change in latitude does not have a significant impact on gravity.

Option 4: Acceleration due to gravity is independent of the mass of the Earth. This statement is incorrect. The acceleration due to gravity is directly proportional to the