Step 1: Confirm Statement I against the standard definition of a soil profile.
A soil profile is the vertical section exposed when you dig down from the ground surface through the various layers, or horizons, of a soil, down to the parent material. This matches Statement I word for word, so Statement I is correct.
Step 2: Check what Statement II is actually describing.
Statement II defines the property in question as the arrangement of individual soil particles with respect to each other into a pattern. That description, the arrangement or aggregation of particles into peds or clusters, is the textbook definition of soil structure, not soil texture.
Step 3: State what soil texture actually means, to see the mismatch clearly.
Soil texture is instead defined by the relative proportions of sand, silt and clay sized particles present in the soil, a compositional property, not an arrangement or pattern property. Since Statement II has attached the structure definition to the word texture, it is factually incorrect as written.
Step 4: Combine the two findings.
Statement I is accurate and Statement II is a mislabelled definition, so the correct combination is that the first statement holds and the second does not.
\[ \boxed{Statement (I) is correct but Statement (II) is incorrect.} \]