Q. Statement I: The potential of grounded object is taken to be zero.
Statement II: Capacitance of the earth is very large.

 1499  189 Electrostatic Potential and Capacitance Report Error

Solution:

Earth is good conductor of very large size. The capacitance of earth is very large: If some charge is given to earth or some charge drawn from earth, it does not effect the original potential. Thus, the potential of grounded object is supposed to be zero.