Question

Managerial accountants have a single role w/in an organization: collecting and reporting costs to management. True or False

Answer 1

In a proprietary colony, the Proprietors have responsibilities beyond just collecting profits.

Step-by-step explanation:

In a proprietary colony, the Proprietors have no responsibilities except to collect the profits.

False

A proprietary colony is a form of colonial government in which the colony is owned and controlled by one individual, known as the Proprietor. While the Proprietor does collect the profits, they also have various responsibilities and duties towards the colony and its inhabitants. These responsibilities can include establishing laws, providing for the defense and infrastructure of the colony, and promoting economic development.