AIS

The major difference between the Financial Reporting System (FRS) and the Management Reporting System (MRS) is the FRS provides discretionary information, the MRS provides nondiscretionary information FRS reports are prepared in flexible, non- standardized formats; the MRS reports are prepared in standardized, formal formats FRS reports are prepared using information provided by the General Ledger System; the MRS provides information to the General Ledger System FRS provides information to internal and external users, the MRS provides information to internal users The type of transaction most suitable for real-time processing is recording interest earned on long-term bonds recording fixed asset purchases recording a sale on account adjusting prepaid insurance Market research and advertising are part of which business function? production marketing finance materials management