23) A U.S. firm sells merchandise today to a British company for 150,000. The current exchange rate is $1.55/ , the account is payable in three months, and the firm chooses to avoid any hedging techniques designed to reduce or eliminate the risk of changes in the exchange rate. The U.S. firm is at risk today of a loss if: A) the exchange rate changes to $1.52/. B) the exchange rate changes to $1.58/. C) the exchange rate doesn't change. D) all of the above 24) are transactions for which there are, at present, no contracts or agreements between parties. A) Backlog exposure B) Quotation exposure C) Anticipated exposure D) none of the above 25) When there is a full forward cover with the spot rate equal to the forward rate all of the following are true EXCEPT: A) The hedge is asymmetric B) There is no uncovered exposure remaining. C) The total position is a perfect hedge. The currency hedge ratio is equal to 1