The following statements are true, except:

a. The person liable for fringe benefit tax is the employer, whether individual, professional partnership, or a corporation regardless of whatever the corporation is taxable or not, or the government and its instrumentalities.

b. Fringe benefit tax shall be treated as a final income tax on the employee withhold and paid by the employer on a quarterly basis.

c. The gross up monetary value of the fringe benefit shall be determined by dividing the monetary value of fringe benefit by the gross monetary value factor.

d. The gross up monetary value of the fringe benefit is the actual amount received by the employee.

The determination of the fringe benefit tax would entail the following except:

a. Determination of the manner by which the fringe benefit has been utilized by the employee.

b. Valuation of the fringe benefit.

c. Determination of the percentage of the benefit subject to the fringe benefit tax.

d. Determination of the gross up monetary value of the benefit.