Consider the following statements:1. Laterite consists essentially of oxides of iron and aluminium.2. Ferrallitic soils occur widely in the humid tropics where chemical weathering and leaching are intense. Which of the statement(s) given above is/are correct?

Soil is the loose surface material that covers most land. It consists of inorganic particles and organic matter. Soil provides the structural support to plants used in agriculture and is also their source of water and nutrients.