• Statement (I) is True: Calcium ($\text{Ca}^{2+}$) is relatively immobile in the phloem; therefore, deficiency symptoms develop first in young meristematic leaves and growing points, manifesting as distorted, hooked leaf tips and chlorotic margins.
• Statement (II) is True: Magnesium ($\text{Mg}^{2+}$) is highly mobile in the phloem and readily translocated from mature to developing tissues, causing deficiency symptoms (interveinal chlorosis) to appear first on older lower leaves.
• Conclusion: Both Statement (I) and Statement (II) are true.

Correct option: (1) Both Statement (I) and Statement (II) are true.