What Is Meant by Translation Exposure

What is meant by translation exposure?

A) long-run effect of changes in exchange rates on future prices,sales,and costs
B) impact of currency exchange rate changes on the reported financial statements of a company
C) extent to which a firm's future international earning power is affected by changes in exchange rates
D) extent to which the income from individual transactions is affected by fluctuations in foreign exchange values
E) The obligations for the purchase or sale of goods and services at previously agreed prices