Which of the following is true of accounting risk?

a. Accounting risk is the degree to which a firm's financial statements are exposed to exchange rate fluctuation.

b. Accounting risk refers to the possibility that a firm's present value of future cash flows will be affected by exchange rate fluctuations.

c. Accounting risk is synonymous with transaction risk.

d. Accounting risk refers to the possibility that future cash transactions will be affected by changing exchange rates.