Forward exchange contracts may be used to: Hedge Risk Speculate No No No Yes Yes No Yes Yes Which of the following general types of transaction could be a foreign currency transaction? Operating Transactions forward Exchange Contract Transactions Yes Yes Yes No No Yes No No For accounting purposes, Which of the following are forward contracts? Foreign Currency Forward Exchange contracts Foreign Currency option Contracts Yes Yes Yes No No Yes No No Which one of the following is not associated with forward contracts? The contract may require a future purchase or sale. The contract provides for using the market at the date the contract is fulfilled. The contract may permit a future purchase or sale. The contract specifies the subject matter of the exchange