Check Statement I: "Aniline is less basic than acetamide."

We compare the basic strength of aniline and acetamide.

• In aniline ($\mathrm{C_6H_5NH_2}$), the lone pair on nitrogen is delocalized into the benzene ring by resonance, so it is less available for protonation.
• In acetamide ($\mathrm{CH_3CONH_2}$), the lone pair on nitrogen is even more strongly delocalized toward the carbonyl group: $\mathrm{CH_3CONH_2 \leftrightarrow CH_3C(=O^-) = NH_2^+}$ Because of this resonance with the carbonyl group, the lone pair is much less available for accepting a proton.

Therefore, acetamide is much less basic than aniline.

So the statement "Aniline is less basic than acetamide" is false.

Check Statement II: "In aniline, the lone pair of electrons on nitrogen atom is delocalized over benzene ring due to resonance and hence less available to a proton."

This is correct. In aniline, the nitrogen lone pair participates in resonance with the aromatic ring: $\mathrm{C_6H_5NH_2 \leftrightarrow resonance\ structures}$ Hence the lone pair is less available for protonation compared with aliphatic amines.

So Statement II is true.

Conclusion:

• Statement I: False
• Statement II: True

Therefore, the correct option is: $\boxed{\text{B}}$

Comparison with stored answer:

Stored correct answer = B

My derived answer = B

Hence, they agree.