Translation exposure measures the potential for an increase or decrease in the parent companys net worth and reported net income canted by a change in exchange rates since the last consolidation of international operations. changes in the value of outstanding financial obligations incurred prior to a change in exchange rates. an unexpected change in exchange rates impact on short run expected cash flows. none of the above. Generally speaking, translation methods by country define the translation process as a function of what two factors? size; location a firm's functional currency; location foreign subsidiary independence; a firm's functional currency location: foreign subsidiary independence What type of international risk exposure measures the change in present value of a firm resulting from changes in future operating cash flows caused by any unexpected change in exchange rates? Accounting exposure operating exposure translation exposure transaction exposure