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Translation exposure reflects: A) the exposure of a firm's ongoing international transactions to exchange rate fluctuations.

10. Translation exposure reflects:
A) the exposure of a firm's ongoing international transac¬tions to exchange rate fluctuations.
B) the exposure of a firm's local currency value to transac¬tions between foreign exchange traders.
C) the exposure of a firm's financial statements to exchange rate fluctuations.
D) the exposure of a firm's cash flows to exchange rate fluctuations.

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