Step 1: Understanding the Concept
Endosperm may be nuclear, cellular or helobial, depending on how the primary endosperm nucleus divides.
Step 2: Check Statement I
Coconut has nuclear endosperm. The outer part becomes cellular as the white kernel, and the centre stays free-nuclear and vacuolated as coconut water. Statement I is correct.
Step 3: Check Statement II
In helobial endosperm, the first division forms a large micropylar and a small chalazal chamber. The micropylar chamber shows free nuclear division followed by wall formation, while the chalazal chamber stays free-nuclear or undivided. Statement II reverses this, so it is incorrect.
Final Answer:
Statement I is correct but Statement II is incorrect.
\[ \boxed{\text{(C) }\text{Statement (I) is correct but Statement (II) is incorrect.}} \]