Which of the following concerning translation gains and losses is true for the current-rate method? They are taken to owners' equity. Losses are recognized but gains are deferred. They are taken to the income statement. They are not a factor if the foreign currency strengthens against the dollar. Aletter of credit can only be amended if all the parties involved agree. obligates the importer's bank to honor a draft presented to it. can be amended by any of the parties involved at any point. obligates the exporter's bank to honor a draft presented to it. Which of the following modes of entry requires the lowest level of investment? Foreign direct investment Exporting Joint ventures Wholly-owned subsidiaries