Aldehydes having at least one α-hydrogen undergo a reaction in the presence of a dilute alkali as a catalyst to form β-hydroxyaldehydes. This reaction is known as:

Compound P (C8H8O) gives a red-orange precipitate with 2,4-DNP reagent and it does not reduce Fehling's reagent. On drastic oxidation with chromic acid, P gives an aromatic product Q that produces effervescence on treating with aq. NaHCO3. Compounds P and Q, respectively, are:

Which of the following statements is/are correct? Statement-I: All aldehydes and ketones give a positive Tollen's test. Statement-II: Only aldehydes (and α-hydroxy ketones) reduce Fehling's solution, whereas simple ketones do not.