NO.PZ201812100100000404
问题如下：
What is the best response to Question 1?
选项：
A.Yes
B.No, because it would reduce organic sales growth
C.No, because it would reduce net price realization and mix
解释：
A is correct.
Net sales growth equals organic sales growth plus or minus the effects of acquisitions, divestitures, and foreign exchange. A foreign currency translation loss would reduce net sales growth. Thus the answer to Question 1 is yes.
解析：B选项organic sales growth是剔除了并购（acquisition）、剥离（divestiture）以及汇率改变（foreign exchange）之后的核心增长率，是由于价格和销量上涨带来的增长，因此汇率的改变不会影响organic sales growth。C选项Net price realization and mix 指由于价格上涨带来的sales的增长，汇率的改变也不会影响它。Question中的net sales growth是在organic sales growth的基础上考虑并购、剥离以及汇率改变之后的一个总的增长率，因此foreign currency translation loss会降低net sales growth。
这道题是cr method，exposure是net asset，所以外币贬值是 loss，从而降低母公司的net sales rate 是这样理解吗？
