Statement 1: The borax Na2B4O5 OH4.  8H2O is a useful as  primary standard for titrating against acids.Statement 2: Aqueous solution of borax contains equal amounts of weak acid and its salt.

Na2B4O5 OH4.  8H2O  +  2HCl                                           →  2NaCl  +  4H3BO3  +  5H2OIndicator methyl orange pH range  3.1−4.4In water, borax gives both BOH3  and   BOH4−  and  only  the BOH4− reacts with HIReason : B4O5OH42− + 5H2O ⇌   3BOH3weak  acid + 2 BOH4-its  saltthus acts as a buffer.