Which of the following is subject to transaction exposure?
A. A U.S. company's foreign subsidiary in Japan has a receivable denominated in Yen.
B. A Japanese company's foreign subsidiary in the U.S. has a receivable denominated in Yen.
C. A U.S. company's foreign subsidiary in Japan has a payable denominated in Yen.
D. A Japanese company's foreign subsidiary in the U.S. has a payable denominated in dollars.