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    Question

    Translation exposure arises

    when:
    A Actual cash flows are affected Correct Answer Incorrect Answer
    B Economic value changes Correct Answer Incorrect Answer
    C Consolidated statements include foreign subsidiaries Correct Answer Incorrect Answer
    D Only forward contracts are involved Correct Answer Incorrect Answer
    E None of the above Correct Answer Incorrect Answer

    Solution

    Translation exposure arises from converting financials of foreign operations into the reporting currency.

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