Question $6-1($LO $06-02)$

What is the concept underlying the two$-$transaction perspective in accounting for foreign currency transactions?

Multiple Choice

An export sale $($import purchase$)$ and the subsequent collection $($payment$)$ of cash are treated as one transaction.

An export sale $($import purchase$)$ and the subsequent collection $($payment$)$ of cash are treated as two separate transactions to be accounted for separately.

Export and import are treated differently under the two$-$transaction perspective.

Receivables resulting from export sales are not reevaluated at the end of the period under the two$-$transaction perspective.