The organization that has emerged as the main vehicle for global accounting harmonization is: a. the PCAOB b. the FASB c. the IASB d the IOSCO The transition from US GAAP to IFRS in the United States is being done through a two-pronged approach referred to as a. improve and converge b. improve and adjust c. improve and harmonize d none of the above The growing demand for environmental disclosure is attributed to: a. a unified approach to environmental disclosure among industrialized nations b. relatively easy reporting due to a lack of high-profile environmental disasters c. increasing public concern over environmental issues d. an attempt to please the environmentalist Translation exposure, one of the three types of foreign exchange exposure: a. arises when foreign currency financial statements of foreign affiliates must be restated into the parent's currency b. relates to the sensitivity of the firm's contractual cash flows denominated in foreign currency to exchange rate changes as measured in the firm's domestic currency c. relates to the extent to which the value of the firm would be affected by unexpected changes in currency exchange rates d. none of the above