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20 1 1 p S1: Nicanor, a senior manager of ABC Corp., received P 30,000 fringe benefits from the company. Nicanor has the obligation to
20 1 1 p S1: Nicanor, a senior manager of ABC Corp., received P 30,000 fringe benefits from the company. Nicanor has the obligation to report in his annual income tax return the fringe benefit he received. S2: Inday, an accounting clerk of ABC Corp., received P5,000 fringe benefits from the company. The fringe benefits received by Inday is subject to fringe benefits tax O a. Only S1 is true O b. Only S2 is true O c. Both are true O d. Both are false
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