The reactance of a circuit containing a capacitor and an inductor is given by X=XL−XC=ωL−ωC1. An AC circuit has zero reactance at resonance, i.e., when, XL=XC. So, first statement is true.
The power consumption in an AC circuit is zero when circuit contains only inductance or capacitance since average power consumed in a cycle is zero for inductance or capacitance. So, second statement is false.