Diborane on hydrolysis gives a compound X. The correct statements about X are
I. It is a tribasic acid
II. It is a weak monobasic acid
III. It has a layer structure
IV. It is highly soluble in water
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Boric acid (H$_3$BO$_3$) is a very unusual acid. It's a Lewis acid, not a Br��nsted-Lowry acid, as it accepts an OH$^-$ ion from water rather than donating its own proton. Remember its weak, monobasic nature and its characteristic layered structure in the solid state due to hydrogen bonding.