Joshua is traveling to Europe this summer. He wants to take the appropriate precautions to minimize any losses should there be any circumstances that would affect his trip. Joshua's mom has been ill, and he is worried that he will need to return home, forfeiting his trip and incurring additional expenses. Joshua has purchased insurance that would allow him to recover his costs and return home if needed. He has also added a $250 deductible to bring down the cost of the premiums. Identify the statement that best describes the risk management strategy that Joshua has implemented. QORIS3U2bj|FaHBFY3VLMWQWVVJ1UT09 @ a. Joshua has transferred the risk by purchasing an insurance policy b. O Joshua has reduced the risk by purchasing an insurance policy c. Joshua has retained the risk by adding a deductible d. Joshua has transferred the risk by adding a deductible