Which of the following is an example of translation $($balance$-$sheet$)$ exposure?

Question $8$Answer

a$.$

The risk of a new R&D project lead by a foreign subsidiary

b$.$

Billing new deals in domestic currency $($not in a foreign currency$)$

c$.$

Leaving the accounts receivable unhedged

d$.$

Updating the value of assets in a foreign country whose currency is depreciated