Assertion : A substance that can either act as an acid a base is called ampholyte.
Reason : Bisulphide ion `(HS^(-))` and bicarbonate ion `(HCO_(3)^(-))` are ampholytes.

Options

A. Statement-1 is True, Statement-2 is True, Statement-2 is a correct explanation for Statement-1
B. Statement-1 is True, Statement-2 is True, Statement-2 is NOT a correct explanation for Statement-1
C. Statement-1 is True, Statement-2 is False.
D. Statement-1 is False, Statement-2 is True.

Explanation

To solve the assertion and reason question, we will analyze both statements step by step.

### Step-by-Step Solution

1. **Understanding the Assertion**:
- The assertion states that "A substance that can either act as an acid or a base is called ampholyte."
- This definition is indeed correct. An ampholyte is a substance that can donate protons (act as an acid) or accept protons (act as a base) depending on the conditions.

**Hint**: Recall the definitions of acids and bases according to the Brønsted-Lowry theory.

2. **Analyzing the Reason**:
- The reason states that "Bisulphide ion (HS^(-)) and bicarbonate ion (HCO3^(-)) are ampholytes."
- To verify this, we need to check if both ions can act as acids and bases.
- **Bicarbonate Ion (HCO3^(-))**:
- It can act as an acid by donating a proton to form carbonate ion (CO3^2-).
- It can act as a base by accepting a proton to form carbonic acid (H2CO3).
- **Bisulphide Ion (HS^(-))**:
- It can act as an acid by donating a proton to form sulfide ion (S^2-).
- It can act as a base by accepting a proton to form hydrogen sulfide (H2S).

**Hint**: Consider the reactions that each ion undergoes in water to determine their behavior as acids and bases.

3. **Conclusion**:
- Both the assertion and the reason are true. However, the reason does not provide a correct explanation for the assertion because it merely states examples of ampholytes without explaining why the definition holds.
- Therefore, the correct answer is that both statements are true, but the reason is not a correct explanation for the assertion.

### Final Answer
- **Assertion**: True
- **Reason**: True, but not a correct explanation for the assertion.