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
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Both 1 and 4 are correct
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