Which of the following statements regarding oxidation and reduction are correct?
- In oxidation, loss of electron takes place whereas in reduction, gain of electron takes place
- In oxidation, gain of electron takes place whereas in reduction, loss of electron takes place
- Oxidising agent decreases the oxidation number but reducing agent increases the oxidation number
- Oxidising agent increases the oxidation number but reducing agent reduces the oxidation number
Select the correct answer using the code given below: