Final answer:
The Finance/Administration functional area is responsible for monitoring incident costs and handling accounting, procurement, time recording, and cost analysis within the ICS.
Step-by-step explanation:
The Finance/Administration functional area within the Incident Command System (ICS) is responsible for monitoring costs related to the incident, and it handles tasks concerning accounting, procurement, time recording, and cost analysis.
ICS is a standardized approach to the command, control, and coordination of emergency response providing a common hierarchy within which responders from multiple agencies can be effective. The primary focus of the Finance/Administration section is to manage all financial aspects of an incident. This includes cost analysis, compensation and claims, procurement, and ensuring that all financial operations are executed within the appropriate laws and regulations.