Which of the following statements is correct in relation to risk management?

Group of answer choices

a. More than one of the other statements is correct in relation to risk management.

b. Value-at-Risk is an approach used to quantify the downside risk faced by firms.

c. Due to the high cost of hedging, firms should try to reduce their total exposure via natural hedges.

d. None of the other statements is correct in relation to risk management.

e. Derivatives, such as options and forwards, can only be used for risk management purposes.