The correct answer is C) Hand held flares and orange smoke signals are required. This is the correct answer because the regulations for survival craft equipment require both hand-held flares and orange smoke signals to be carried as distress signals. The other answer choices are incorrect - option A does not require any additional distress signals besides the hand-held flares, option B only requires smoke signals without flares, and option D specifies an improper type of distress signal (a Very pistol with flares). The requirement for both hand-held flares and orange smoke signals is outlined in the Code of Federal Regulations (46 CFR 199.175) for the carriage of survival craft equipment. This ensures redundancy in the available distress signals to maximize the chances of being located in an emergency.