Step 1: Understanding the Concept:
GPCRs are a large family of receptors.
They are involved in signal transduction.
Step 2: Key Formula or Approach:
No specific formula.
Need to understand GPCR structure and function.
Step 3: Detailed Explanation:
Statement I: GPCRs are transmembrane proteins - correct.
They have seven transmembrane domains.
Statement II: Hormone binding on extracellular side induces conformational change on cytoplasmic side - correct.
This activates G-proteins.
Thus, both statements are correct.
Step 4: Final Answer:
Both Statement I and Statement II are correct.
Hence, the correct option is (C).