Step 1: Recall what cartilage is.
Cartilage is a type of connective tissue. Its cells, called chondrocytes, sit in small spaces and are surrounded by a firm but flexible matrix.
Step 2: Test statement I about blood supply.
A vascular tissue has its own blood vessels. Cartilage does not have blood vessels running through it; it gets food by slow diffusion. So cartilage is avascular, and statement I is wrong.
Step 3: Recall the perichondrium.
Perichondrium is a covering layer of connective tissue around most cartilage. It helps the cartilage grow and repair.
Step 4: Test statement II about fibrous cartilage.
Fibrous cartilage, found in places like the discs between backbones, does not have a perichondrium. So statement II is correct.
Step 5: Compare the two statements.
Statement I is incorrect and statement II is correct.
Step 6: Choose the matching option.
The option that says statement I is incorrect and statement II is correct is the fourth one.
\[ \boxed{\text{Statement I is incorrect II is correct}} \]