21) Specialization by individuals in organizations is being replaced by decision-making by cross-functional teams.

22) One of a controller’s responsibilities is risk management.

23) One of a treasurer’s responsibilities is tax administration.

24) The controller is primarily concerned with a company’s financial matters and the treasurer is concerned with a company’s operating matters.

25) What is the set of business functions called that are necessary to create the goods or services that an organization sells?

26) What is the time period called through which a product passes, from conception to the end of its life?

27) Discuss the role management accountants play in a company’s value chain?

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