We know, that the Falkland current is a cold current. It flows along the Argentina's coast in South Atlantic Ocean. Hence statement 2 is incorrect. So, either option A or option D is correct.Let us look at Statement 1, we know that, he Labrador Current is a cold current in the North Atlantic Ocean which flows from the Arctic Ocean south along the coast of Labrador and passes around Newfoundland, continuing south along the east coast of Canada near Nova Scotia.Since statement 1 is correct and Statement 2 is incorrect, in that case, option B, C and D invalid.And hence, therefore option A is the correct answer.