The correct option is 1 and 2 because of the rules governing the legislative process in India. Statement 1 is correct as a bill that is pending in the Lok Sabha indeed lapses upon the dissolution of that house, which is a fundamental aspect of the parliamentary system where only bills in active sessions can be considered. Statement 2 is also accurate; a bill that has been passed by the Lok Sabha but is still pending in the Rajya Sabha does lapse on Lok Sabha's dissolution, as it requires the Lok Sabha's authority for passage and cannot be carried forward. Statement 3 is incorrect as a bill regarding which the President has called a joint sitting does not lapse; the joint sitting may proceed regardless of the Lok Sabha's status. Understanding these nuances is crucial for UPSC aspirants as it reflects comprehension of parliamentary procedures and the legislative framework.