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With reference to naming convention of GL accounts, what should be the range of first digit for balance sheet and P&L accounts in Kraft APAC Catalyst model

  1. B.S. 1-4 and P&L 6-9

  2. B.S. 6-9 and P&L 1-4

  3. B.S. 1-4 and P&L 4-9

  4. B.S. 4-9 and P&L 1-4
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B Correct answer
AI explanation

Under this model's GL account numbering convention, balance sheet accounts are assigned numbers starting with digits 6-9, while profit & loss (income statement) accounts start with digits 1-4. This numbering scheme lets someone identify an account's statement category just from its leading digit.

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