The Smithsonian Institution exists to preserve historical and cultural items of value and to share those items with the public; it does not exist to maximise the wealth of any shareholders.This entity is organised as a(n)
A) cooperative.
B) quasi-government corporation.
C) S-corporation.
D) not-for-profit corporation.
E) closed corporation.

Question

Quizplus · Accepted Answer

The statement about the Smithsonian Institution's purpose suggests that it is a not-for-profit corporation, which means that it is organized to serve a charitable or educational purpose rather than for the benefit of shareholders. Choices A, C, and E all refer to different types of for-profit corporations, while choice B is not accurate as the Smithsonian Institution is not a true government agency, although it is funded in part by the federal government.

The Smithsonian Institution Exists to Preserve Historical and Cultural Items