What can be concluded from the statements above?

All statements are correct.
Only statement I is correct.
Only statement I and IV is correct.
Statements II and IV are correct.
Statements I, III, and IV are correct.
I. Power can be increased by performing more work given the same amount of time.
II. Energy and Power can be both measured using the unit of Joule.
III. Power is increased by increasing the time for the same amount of work to be done.
IV. An object cannot possess both kinetic and potential energy. It can only have one form of energy at any given instant.

The correct conclusion is: Only statement I is correct.

From the statements above, we can conclude that only statement I is correct.