1. Which one of the following items is a taxable fringe benefit? a. P10,000 actual medical benefits received during the

[answerhappygod]

1. Which one of the following items is a taxable fringe
benefit?
a. P10,000 actual medical benefits received during the taxable
year.
b. Cost of employees' group insurance paid by the employer.
c. Cost of the educational assistance to the employee's
children.
d. Daily meal allowance of P100. The basic minimum wage is
P500.
2. Who may avail of the 8% income tax rate?
a. A Non-VAT domestic corporation with sales not more than P3
million.
b. A VAT domestic corporation with sales exceeding P3
million.
c. An employee whose compensation income amounted to less than
P3 million.
d. A Non-VAT mixed income earner whose business income amounted
to less than P3 million.
3. Which is subject to ordinary income tax?
a. Royalties earned by a non-resident citizen from abroad
b. Dividends received from a domestic corporation by a resident
alien
c. Dividends received from a foreign corporation by a
non-resident citizen
d. Rentals earned by a resident citizen from a real property
located outside the Philippines.