1. Which of the following combinations correctly describes the relationship between foreign currency transactions, exchange rate changes, and foreign exchange gains and losses? 2. In accounting for foreign currency transactions, which of the following approaches is used in the United States? a. One-transaction perspective; accrue foreign exchange gains and losses b. One-transaction perspective; defer foreign exchange gains and losses c. Two-transaction perspective; defer foreign exchange gains and losses d. Two-transaction perspective; accrue foreign exchange gains and losses