Asked by
Jocelyn Gonzalez
on Oct 28, 2024
Verified
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
Federal Income Taxes
Taxes levied by the federal government on individuals, corporations, and other entities based on their net income.
In Perpetuity
In perpetuity refers to an infinite amount of time, often used in finance to describe payments that continue forever.
- Understand the legal consequences and meanings related to the corporate business structure, including the notion of being a legal entity.
Verified Answer
MS
Learning Objectives
- Understand the legal consequences and meanings related to the corporate business structure, including the notion of being a legal entity.