Concept:
Heart sounds are produced due to closure of different valves during the cardiac cycle.
Step 1: Understand 'Lub' sound.
The first heart sound (Lub) is produced due to closure of:
• Atrioventricular (AV) valves (tricuspid and bicuspid/mitral)
Step 2: Understand 'Dub' sound.
The second heart sound (Dub) is produced due to closure of:
• Semilunar valves (aortic and pulmonary)
Step 3: Analyze statements.
• Statement I → Incorrect (Lub is due to AV valves, not semilunar) $\times$
• Statement II → Incorrect (Dub is due to semilunar, not cuspid) $\times$
Step 4: Conclusion.
\[
\text{Both statements are incorrect}
\]