Select from the option list provided the answer choice that best applies for each of the following definitions relating to foreign currency issues. Each choice may be used once, more than once, or not at all.

DefinitionTerm$1.$The$$accounting$$for$$gains$$or$$losses$$on$$a$$derivative$$designated as a hedge of net investment in a foreign entity.

$2.$ Expressing in the reporting currency amounts denominated or measured in different currencies.

$3.$ The effect of a change in exchange rates between the functional currency and the currency in which the transaction is denominated.

$4.$ The result when an entity acquires or disposes of assets $($or incurs or settles liabilities$)$ denominated in a foreign currency.

$5.$ Used for remeasurement.

$6.$ The currency of the primary economic environment in which the entity operates.

$7.$ The rate used for foreign currency translation.