Final answer:
The role of management accountants in company strategy is significant, making the statement false. Similarly, the claim that Proprietors in a proprietary colony only collected profits is false; they had various responsibilities including governance and administration.
Step-by-step explanation:
The statement that management accountants should have little or no role in deciding on a company's strategy is false. Management accountants have a significant role in strategy formulation as they bring crucial financial insights that help in strategic decision-making, such as investment appraisal, cost analysis, and performance measurement. They are instrumental in providing data that supports long-term planning and the assessment of potential risks and opportunities.
In the context of a proprietary colony, the claim that Proprietors have no responsibilities except to collect profits is also false. Proprietors of such colonies were responsible for much more, including the establishment of the colony's government, the administration of justice, and ensuring the colony's overall wellbeing alongside their economic ventures.