Statement(A): A couple on a body produce both translational and rotation motion in a body.
Statement(B): Mechanical advantage greater than one means that small effort can be used to lift a large load.
 

Couple on a body will not necessary mean to have a net force( so having translation will not be compulsory).

Mechanical advantage greater than one means that small effort can be used to lift a large load( small force can have large torque)