Carver Corporation uses the accrual method of accounting and the calendar year as its tax year. Its

Question:

Carver uses the accrual method of accounting and the calendar year as its tax year. Its board of directors authorizes a cash contribution on November 3 of Year 1, that the pays on March 9 of Year 2. In what year(s) is it deductible? What happens if the does not pay the contribution until April 20 of Year 2?
Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...