1. True or False? The same information is shown in the income statement and the statement of changes in equity.

2. True or False? If a firm has ordinary/common shares only, book value per share (BVS) is computed as total shareholder's equity divided by the number of ordinary shares.

3. True or False? The asset should be recorded at the fair market value of the issued shares if the shares are issued in exchange for a non-cash asset.