Pancreatic lipase can be activated by:
1. Bile
2. Enterokinase
3. Secretin
4. Enterogastrone

All the following statements regarding bile are true except:
1. Bile salts are derivatives of cholesterol
2. Bile is important in absorption of fat soluble substances
3. Bile also serves as a route of excretion of bile pigments
4. It is acidic in nature