Hom-tensor adjunctions Let $A$ be a ring (which might or might not be commutative), and let $M,N$ and $K$ be three bi-modules over $A$.
There are two hom-tensor adjunctions. One says that

$Hom_A(M\otimes_A N, K) \cong Hom_A(M,Hom_A(N,K))$.

The other says that

$Hom_A(M\otimes_A N, K) \cong Hom_A(N,Hom_A(M,K))$.

Are these isomorphisms of bimodules?
If so, does this mean that the two bimodules $Hom_A(N,Hom_A(M,K))$ and $Hom_A(M,Hom_A(N,K))$ are isomorphic?
 A: Be careful. It's cleanest to describe the tensor-hom adjunction with three different rings instead of one, to make it as hard as possible to accidentally write down the wrong thing, so let $A, B, C$ be three different rings, let $_A M_B$ be an $(A, B)$-bimodule, let $_B N_C$ be a $(B, C)$-bimodule, and let $_A K_C$ be an $(A, C)$-bimodule. Then
$$\text{Hom}_C(M \otimes_B N, K) \cong \text{Hom}_B(M, \text{Hom}_C(N, K))$$
as $(A, A)$-bimodules, and
$$\text{Hom}_A(M \otimes_B N, K) \cong \text{Hom}_B(N, \text{Hom}_A(M, K))$$
as $(C, C)$-bimodules.
Specializing to the case that $A = B = C$ shows that your notation is sloppy (to be fair, so is mine): when you write $\text{Hom}_A$ you haven't been careful about whether this means left $A$-module or right $A$-module homomorphisms, and it has different meanings in the different parts of your adjunctions unless $A$ is commutative and $M, N, K$ are plain $A$-modules, in which case there's no need to make left/right distinctions.
(Specifically, $\text{Hom}_A$ means left the second, fifth, and sixth times you used it, but right the first, third, and fourth times.)
A: It turns out the two bimodules you mention are isomorphic. Adjunction in general gives you the bijection you described. However, in the proof of the Hom/Tensor adjunction, the map that you define for the bijection can be seen to also be a homomorphism. Really you have to write out the proof in detail, and observe that you are dealing with homomorphisms. More information can be found here:
Adjointness of Hom and Tensor
In fact the exact statement you are asking about is mentioned here:
http://en.wikipedia.org/wiki/Tensor-hom_adjunction
