Which of the following is TRUE about Real Estate Investment Trusts (REIT)?
I. They pay no tax on their net income.
II They are traded on the stock exchange.
III. They directly own one or more types of real estate
IV. They allow investors access to a diversified real estate portfolio,
A. I and IV only
B. II and III only
C. I, II, III and IV
D. II, III and IV only