Which of the following is not required to allow an accrual-method corporation to deduct charitable contributions before actually paying the contribution to charity?

Multiple Choice

• Approval of the payment from the board of directors.

• Approval from the IRS prior to making the contribution.

• Payment made within three and one-half months of the tax year-end.

• All of the choices are necessary.

WFO Corporation has gross receipts according to the following schedule:

Year 1	$22.00 million
Year 2	$24.00 million
Year 3	$26.00 million
Year 4	$26.50 million
Year 5	$27.00 million
Year 6	$28.00 million

If WFO began business as a cash-method corporation in Year 1, in which year would it have first been required to use the accrual method?

Multiple Choice

• Year 3.

• Year 4.

• Year 5.

• Year 6.

• None of the choices are correct.