Yes, both statements are correct:

1. $\log_2(16) = 4$: This means that 2 raised to the power of 4 equals 16. In other words, $2^4 = 16$.

2. $4^2 = 16$: This states that 4 raised to the power of 2 equals 16.

Would you like further details or any clarifications on logarithms or exponents?

Here are 5 related questions:

1. What is $\log_2(32)$?
2. How would you calculate $\log_5(25)$?
3. What is the value of $3^3$?
4. How do logarithmic and exponential functions relate to each other?
5. What are the properties of logarithms (e.g., product, quotient, power rules)?

Tip: Remember, logarithms are the inverse of exponential functions. If $a^b = c$, then $\log_a(c) = b$.