Two statements, One Assertion and the other Reason, are given. Which one of the following options is correct?
Assertion: The acid strength of 4 compounds in the descending order is p-Nitrophenol \( > \) p-Methoxyphenol \( > \) Phenol \( > \) p-chlorophenol.
Reason: Electron withdrawing groups increase the acid strength while Electron donating groups decrease the acid strength of Phenol and its derivatives.