L1 and H1 at same time

[usna]

Hi,

  I am in India and have valid H4. Company A has filed my H1B couple of days back. As it is early days yet, I havent heard back on the status.

 

 Now company B, in which I am working currently wants to process my L1 immediately. My questions are

 

1) Can L1 be processed while H1 application is still in process ?

2) Does the L1 approval or denial impact H1 ?

3) Can I travel to US now, before getting any response on the H1 petition, if I do not go ahead with L1?

4) I am aware that we can have multiple visas, but have only 1 status. How do we know what is our status as per USCIS?

 

Thanks a lot.