$Ar{N}_{2}Cl + dil.H_{2}S{O}_4\to X + N_2+HCl$

Regarding X, a wrong statement is 

Benzene diazonium chloride in the presence of dilute sulphuric acid yields phenol as the major product along with nitrogen and hydrochloric acid as the byproducts. Product X is phenol which is a weak acid. It is even weaker than acetic acid because the phenoxide ion is stabilized by resonance way better than the acetate ion.