Which of the following investments has the highest liquidity risk?

Max Miser formed a trust to provide income for himself in his twilight years. The trustee is required to distribute all of the trust's current income, but he is strictly forbidden to distribute any of the trust principal. Max has also stipulated that he wants no charitable contributions to be made by the trust. This trust is best described as a

A. Simple trust. B. Complex trust. C. Grantor trust. D. Simple grantor trust.

Checkoff arrangements often deal with issues other than what the management agrees to deduct. Among them are

a. maximum deductions that the employer will check off in any one month. b. requirements that unions reimburse employers for any illegal deductions. c. requirements that unions share in the expenses of collecting dues through the checkoff method. d. All of the above.