What circumstances could the gompany still take current-year

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Problem 1: The board of directors for Oak Corporation authorized a charitable contribution to a qualifying nonprofit organization. However. The contribution was not actually made before the end of the tax year. Under what circumstances could the gompany still take a current-year deduction for this contribution?

Option 1: If the company uses the hybrid method of accounting and the contribution was paid before the due date of the return.

Option 2: If the company uses the cash method of accounting and the contribution was paid before the due date of the return.

Option 3: If the company uses the accrual method of accounting and the contribution was paid before the due date of the return.

Option 4: The company must wait until the next tax year to claim the deduction.

Reference no: EM132703478

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