Final answer:
Risk acceptance is the strategy where risk is acknowledged but no action is taken unless it occurs, differentiating it from avoidance, mitigation, and transfer strategies. The correct option is c.
Step-by-step explanation:
The question you're asking is related to risk management strategies in business. When a risk is acknowledged but no action is taken unless the risk occurs, this is known as risk acceptance.
Risk avoidance involves changing plans to eliminate the risk or to protect the project from its impact, whereas risk mitigation involves taking steps to reduce the impact or likelihood of the risk. Risk transfer shifts the risk to a third party, like through insurance. Therefore, the correct answer is C. Acceptance. The correct option is c.