ma$1$if$14$h$\_$ch$12\mathrm{.}10$

Which of the following statements is incorrect?

a$.$ Firms can simply focus on hedging their foreign currency payables and$/$or receivables to hedge economic exposure.

b$.$ Economic exposure represents any impact of exchange rate fluctuations on a firm's future cash flows.

c$.$ The management of economic exposure tends to focus on a long$-$term solution rather than just a short$-$term solution.

d$.$ Transaction exposure represents only the exchange rate risk when converting net foreign cash inflows to U$.$S$.$ dollars or when p