Statement I: An electric motor is a device that converts electrical energy into mechanical energy (motion). This is the correct definition of an electric motor. Statement II: An electric generator (or dynamo) is a device that converts mechanical energy into electrical energy. This is the correct definition of an electric generator. Statement III: Electric motors work based on the principle of the force experienced by a current- carrying conductor in a magnetic field (related to Lorentz force). Electric generators work based on the principle of electromagnetic induction (Faraday's Law), where a changing magnetic flux through a coil induces an electromotive force (voltage). While both involve electromagnetism and share structural similarities, their working principles (force on current vs. induced voltage by changing flux) are different, though related concepts in physics. Therefore, this statement is incorrect.