To solve this question, we need to assess each statement regarding Valence Bond Theory (VBT) and its limitations in explaining certain properties of transition metal complexes.
Given this analysis, the correct statements are: (I) and (III) only.
The correct increasing order for bond angles among \( \text{BF}_3, \, \text{PF}_3, \, \text{and} \, \text{CF}_3 \) is: