Statement-I : A physical quantity can be regarded as a vector, if magnitude as well as direction is associated with it.
Statement-II : A physical quantity can be regarded as a scalar quantity, if it is associated with magnitude only.

Explanation

To analyze the given statements, we will evaluate each statement regarding physical quantities and their classifications as vectors or scalars.

### Step-by-Step Solution:

1. **Understanding Physical Quantities**:
- Physical quantities are properties that can be measured. They can be classified into two categories: scalar and vector quantities.

2. **Analyzing Statement-I**:
- Statement-I states: "A physical quantity can be regarded as a vector if magnitude as well as direction is associated with it."
- **Evaluation**: This statement is true. A vector quantity is defined as one that has both magnitude and direction. For example, velocity and force are vector quantities because they have both a size (magnitude) and a direction.

3. **Analyzing Statement-II**:
- Statement-II states: "A physical quantity can be regarded as a scalar quantity if it is associated with magnitude only."
- **Evaluation**: This statement is also true. A scalar quantity is defined as one that has only magnitude and no direction. For example, temperature and mass are scalar quantities because they are described solely by their size.

4. **Conclusion**:
- Since both statements are true, we conclude that:
- Statement-I is true.
- Statement-II is true.

### Final Answer:
Both Statement-I and Statement-II are true.

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