How are corporate powers generally defined in the Revised Corporation Code?

Corporate powers under the Revised Corporation Code are broadly defined to encompass a wide range of activities necessary for the functioning of a business entity. This includes not only the ability to conduct business but also the authority to borrow funds and enter into contracts. Such provisions are essential as they equip corporations with the flexibility to engage in various financial and legal transactions necessary for growth and operation.

The inclusion of borrowing funds is particularly significant, as it allows corporations to acquire capital, which can facilitate expansion, development, and investment in projects. Additionally, the power to enter contracts is vital for establishing relationships with suppliers, customers, and partners, enabling corporations to operate effectively in the marketplace. The overarching idea is to provide corporations with a comprehensive toolkit to fulfill their business objectives and navigate the commercial environment.

In contrast with the other options, limiting corporate powers solely to conducting business would restrict a corporation's ability to engage in necessary financial transactions. Stating that powers are strictly determined by federal law would overlook state laws and the broader framework that grants corporations their autonomy. Lastly, confining powers only to profit-making activities neglects various aspects of corporate responsibilities, such as social and community engagements, which are often considered in modern corporate governance.