Concept:
Hormones can be broadly classified based on their chemical nature and mode of action into steroid and non-steroid hormones.
Step 1: Analyze Statement I.
Catecholamines (e.g., adrenaline), peptide and polypeptide hormones:
• Cannot cross the lipid bilayer
• Bind to receptors on the cell membrane
• Activate second messenger systems
Thus, Statement I is correct.
Step 2: Analyze Statement II.
These hormones are:
• Non-steroid in nature
• Water soluble
• Lipid insoluble
Thus, Statement II is correct.
Step 3: Conclusion.
\[
\text{Both Statement I and Statement II are correct}
\]