All of the Following Are True Statements About a Corporation

question 4

Multiple Choice

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

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Definitions:

Reconstruction

The period after the Civil War in the United States when the southern states were reorganized and reintegrated into the Union from 1865 to 1877.

1877

marks the year of the end of Reconstruction in the United States, characterized by the withdrawal of federal troops from the South, and the compromise that settled the disputed 1876 presidential election.

Oliver Otis Howard

was a Union Army general during the American Civil War, known for his efforts in the Freedmen's Bureau to help freed slaves, and as one of the founders of Howard University in Washington, D.C.

Carpetbaggers

A term used in the context of the Reconstruction era in the United States to describe Northerners who moved to the South after the Civil War, often criticized for exploiting the region.