Write true or false for the following statements with proper reasons.
Problem 1. Setting discount rates too high due to fear of future rates tends to bias decisions against making strategic investments.
Problem 2. An accountant who works as a managerial accountant usually produces accounting information for one specific company.
Problem 3. Managerial accounting information must be reported to the government on an annual basis.
Problem 4. A firm's decision makers must have knowledge of managerial accounting and concepts.
Problem 5. As a general rule, manufacturing overhead costs are easily associated with specific products.
Problem 6. The cost of capital is the interest rate that results in the present value of cash inflows from an investment.