True/False Answer all questions (5 x 1marks = 05 marks) 1- Investors are interested in financial reporting because it provides information that is useful for making decisions True False 2- The conceptual framework for accounting has been discovered through empirical research. True False 3- GAAP is a product of careful logic or empirical findings and is not influenced by political action.. True False 4- Relevance and reliability are the two primary qualities that make accounting information useful for decision making. True False 5- Verifiability and predictive value are two ingredients of reliability. True False