All of the following are true statements about a corporation except that it
A)must pay state and federal income taxes
B)may engage in any legal activity
C)can enter into legal contracts
D)can continue in perpetuity

Question

Quizplus · Accepted Answer

While a corporation can engage in many legal activities, there are certain restrictions and regulations that apply to them. For example, corporations must comply with antitrust laws and securities regulations, among other things. Therefore, it is not accurate to say that a corporation may engage in any legal activity without restriction or consequence.

All of the Following Are True Statements About a Corporation