All the following statements concerning one and two-transaction approaches are correct, except:

	a.	GAAP requires the one-transaction approach
	b.	Under the two-transaction approach the original sale is accounted for in U.S. dollars at date of sale and no subsequent adjustments are required for sales
	c.	The one-transaction perspective assumes the export sale is not complete until the foreign currency receivable has been collected
	d.	GAAP treats the sale and collection of cash as two separate transactions