1. . Facilities or privilegefurnishedor offered by an employerto his employees thatareofferedor furnishedby theemployermerelyas a meansof promotingthe health, goodwill,contentment ,or efficiencyof hisemployeesA. Fringe benefit B. Fringe benefit tax C. De minimis benefit D. Grossed -up monetary value
2. Any good , service,orotherbenefit furnishedor grantedby an employer in cashor in kindin addition to basic salaries,toan individualemployee(except rank -and -file employee) A. Fringe benefitB. Fringe benefittaxC. De minimis benefit D. Grossed -up monetary
3. Generally, the grossed -upmonetaryvalueof thefringebenefitshall be determinedby dividingthemonetaryvalueof the fringebenefitby A. 65% B. 75% C. 85% D.Both A & B
4. The grossed -up monetary value of fringebenefitsubject to fringebenefittaxreceivedby anon- residentalien individualnot engagedin tradeor businessin thePhilippines is computedby dividingthe monetaryvalueof the fringebenefitbyA. 15% B.25% C. 85%D. 75%
5. Which is not true about the taxability of educational assistance to the employee or his dependents as fringe benefits? A. The cost of educationalassistanceextendedby an employerto the dependentsof an employee shall be treated as taxablefringebenefitsif theassistancewas provided through a competitivescheme underthe scholarshipprogram.B. The cost of educated assistanceto theemployeebornebytheemployerisgenerallya taxablefringebenefitunless the employee'seducation or studyisdirectlyconnectedwiththeemployer'strade,businessor profession . C. The employee whoseeducationalwas financed by the employerisobliged to remainin theemployof theemployer'sfor a periodmutuallyagreeduponundera writtencontractis exempted from fringe benefit. D. All of the above E. None of the above