Which of the following is not true regarding "accounting income"?

The term is one used on Form 1041 to refer to income as computed under the applicable principal and income act as modified by the trust document

This represents the amount that must be mandatorily distributed by terms of any trust that qualifies as a simple trust

The standards for computing accounting income are issued by the Financial Accounting Standards Board

The number most often differs significantly from taxable income of the trust or estate