A$)$ Define and distinguish between Translation Exposure, Transaction Exposure, Economic Exposure, and Operating Exposure in the context of international finance. Provide examples to illustrate each type of exposure. $(3$ marks$)$

B$)$ Discuss the significance of managing exposure risks for multinational corporations $($MNCs$).$ Explain how fluctuations in exchange rates impact each type of exposure and discuss strategies that MNCs can use to mitigate these risks. $(3$ marks$)$

C$)$ Evaluate the differences between Translation Exposure and Economic Exposure. Provide a scenario where each type of exposure would be most relevant and analyze the implications for financial reporting and decision$-$making in an MNC$.(4$ marks$)$