Criterion data is information about measures used to make projections about outcomes

The Tom Trust requires that all trust income be distributed at least annually. There are no provisions for charitable contributions. To be treated as a simple trust, what must also be true?

A. Trust income can consist of interest and dividends only. B. There were no distributions of corpus in the current year. C. All beneficiaries must be U.S. citizens or resident aliens. D. All of the answers are correct.

Gross profit is the difference between:

a. net income and operating income. b. revenues and expenses. c. sales and cost of goods sold. d. income from continuing operations and discontinued operations. e. gross sales and sales discounts.