Step 1: Understanding the Concept:
Viruses are obligate intracellular parasites that require living host cells for replication.
A virus possesses only one type of nucleic acid, making it fundamentally different from cellular organisms.
Detailed Explanation:
Statement I:
This statement is correct.
Every virus contains only one kind of genetic material, either DNA or RNA, but never both simultaneously.
Examples include adenovirus (DNA virus) and influenza virus (RNA virus).
Therefore, Statement I is true.
Statement II:
This statement is incorrect.
Viruses cannot multiply on inert or artificial media because they lack their own metabolic machinery.
They replicate only inside living cells such as cell cultures, embryonated eggs, or susceptible host tissues.
Hence, Statement II is false.
Step 2: Final Answer:
Statement I is true, whereas Statement II is false.
\[
\boxed{(C) Statement I is true but Statement II is false.
\]