19. Which of the statements below is correct ? a) FASB is a sub-division of the Securities and Exchange Commission (SEC) b) GAAP stands for General American Accounting Principles, and must be adhered to by publicly traded companies when preparing their financial statements c) Under cash accounting, a company must recognize revenues in financial statements when the revenues are earned or realized d) An auditor cannot be held liable for any fines or penalties if company managers are found liable of any distortions in their financial statements e) None of the above statements is correct