A division vice president fires project managers if they exceed 10 percent of their operating budget for their last three projects. This policy illustrates which component of internal control

Control environment

Explanation:

Internal control is defined as the process by which a company ensures operational efficiency, transparent financial reporting, and drive compliance with policies, laws and regulations of the company.

Control environment is a component of internal control, it is the series of actions that management of an organisation takes to guide the daily activities of their employees.

It includes actions taken to deal with issues around laid down policies and procedures.

In the given scenario the division vice president fires project managers if they exceed 10 percent of their operating budget for their last three projects.

This creates a control environment that is aimed at discouraging project managers from exceeding their budgets

whole quiz

1. the sum of all activities involved in getting high-quality products into the marketplace

2.operations

3. the principle of looking at the supply chain as a whole in order to improve the overall flow through the system.

4. produced; performed

5. activities producing tangible products, such as radios, newspapers, buses, and textbooks.

6. activities producing intangible and tangible products, such as entertainment, transportation, and education.

7.   customer focus

8. analyzing a competitor's products to identify desirable improvements

9. the systematic direction and control of the processes that transform resources into finished projects that create value for and provide benefits to consumers.

10. operation management.

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