Which of the following statements regarding fringe

1. Which of the following statements regarding Fringe Benefit is/are correct?
I. The fringe benefit tax is a final withholding tax on the grossed-up monetary value
of the fringe benefit granted by the employer to an employee who holds a
managerial or supervisory position.
II. Fringe benefit tax is effective regardless of whether the employer is an individual,
professional partnership or a corporation (regardless of whether the corporation
is taxable or not).
III. The fringe benefit tax regulations cover only those fringe benefits given or
furnished to managerial or supervisory employee. The regulations do not cover
those benefits which are part of compensation income, because these are
subject to creditable withholding tax on compensation.
a. I only c. I, II and III
b. I and II only d. None of the above
2. An employer subject to fringe benefit tax may be a/an 3. Which of the following statements is correct?
Statement 1: The fringe benefit tax is part of the compensation of the managerial employee.
Statement 2 : The fringe benefit tax is to be withheld and remitted by the employer to the BIR.
4. Which of the following is not correct?
E.D. TABAG
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5. Which of the following is subject to fringe benefit tax?
a. Compensation of the rank and file employee.
b. Compensation of the supervisory or managerial employee.
c. Fringe benefit of the rank and file employee.
d. Fringe benefit of the supervisory or managerial employee.
6. Statement 1 : A fringe benefit which is subject to the fringe benefit tax is taxable income of the
employee.
Statement 2 : A fringe benefit which is not subject to the FBT is taxable income of the employee