Step 1: The numerator \(x^2-y^2+2ixy\) equals \(z^2\), and the denominator \(x^2+y^2\) equals \(|z|^2=z\bar z\). So for \(z\neq0\),
\[f(z)=\frac{z^2}{z\bar z}=\frac{z}{\bar z}.\]
Step 2: Write \(z=re^{i\theta}\), so \(\bar z=re^{-i\theta}\) and \(f(z)=z/\bar z=e^{2i\theta}\). As \(z\to0\) along the ray of angle \(\theta\), the value stays \(e^{2i\theta}\), which depends on \(\theta\): along \(\theta=0\), \(f\to1\); along \(\theta=\pi/2\), \(f\to e^{i\pi}=-1\). Since different directions give different limiting values, \(\lim_{z\to0}f(z)\) does not exist. Statement (I) is false.
Step 3: For (II), \(f(z)=\operatorname{Re}(z)/|z|=x/\sqrt{x^2+y^2}\) for \(z\neq0\). Along the positive real axis (\(y=0,x\to0^+\)), \(f=1\); along the imaginary axis (\(x=0\)), \(f=0\). These path limits disagree, so \(\lim_{z\to0}f(z)\) does not exist, and hence \(f\) cannot be continuous at \(z=0\) no matter what value \(f(0)\) is assigned. Statement (II) is false.
Step 4: Neither (I) nor (II) is true.
\[\boxed{\text{Neither (I) nor (II) is true}}\]