The integrated accounts are generally prepared in line with ………. requirement:
A. Cost accounting
B. Responsibility accounting
C. Control account
D. Management account
E. Financial accounting

 

Answer: E. Financial accounting

Explanation: The correct answer is “Financial accounting”. Integrated accounts are prepared to meet the requirements of financial accounting as they provide a unified system that records both cost and financial accounting information in one set of books. This ensures consistency and transparency in reporting.

Run down: Integrated accounts combine both financial and cost accounting into a single system. This approach simplifies the accounting process and aligns with financial reporting requirements, ensuring that all relevant cost and financial data is captured for accurate reporting.