Step 1: Photosystem I sits mainly in the stroma-exposed thylakoid membrane (loosely called the stroma lamellae region), so option (A) is considered correct.
Step 2: PSI has its reaction centre P700, activated by far-red light of wavelength above 680 nm, so option (B) is correct.
Step 3: PSI participates in both cyclic photophosphorylation on its own and non-cyclic photophosphorylation along with PSII, so option (D) is correct.
Step 4: PSI actually has a high chlorophyll a to chlorophyll b ratio, much greater than one, since it is richer in chlorophyll a. So the claim that this ratio is less than one is wrong, making (C) the answer.