Statement I claims that chromosomes are fully condensed at the end of prophase I. In meiosis, prophase I is a long and complex phase divided into five sub-stages: leptotene, zygotene, pachytene, diplotene, and diakinesis. By the end of diakinesis (the final stage of prophase I), the chromosomes are indeed fully condensed and the nucleolus disappears. Therefore, Statement I is true.
Statement II claims that Meiosis I resembles mitosis. While Meiosis I involves stages like prophase, metaphase, anaphase, and telophase, it is fundamentally different from mitosis. Meiosis I is a reductional division where homologous chromosomes separate, whereas mitosis is an equational division where sister chromatids separate. The genetic outcome and the pairing of homologous chromosomes in Meiosis I make it distinct from mitosis. Therefore, Statement II is false.
Since Statement I is correct and Statement II is incorrect, the correct option is (D).
Final Answer: Statement I is correct, but Statement II is false
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