1. If in a discussion of the conversion steps and outcomes with an individual who is converting a traditional IRA to a Roth IRA which is (are) true?
I. Such conversions can be done with no income tax consequences.
II. Qualified distributions from a Roth IRA after a conversion are received tax-free.
1. I only
2. II only
3. both I and II
4. neither I nor II
2. The projection of the sales figure is significant for financial projections of a new venture when undertaking preliminary evaluation primarily because it affects the:?
Balance Sheet / Cash Flow Projection / Profit & Loss Statement / All of the above