True and False:

1. GAAP allows companies that would normally use the equity method the option of using the fair value method, assuming the value of the stock is readily determinable.
2. FRS allows companies that would normally use the equity method the option of using the fair value method, assuming the value of the stock is readily determinable.
3. the concepts of significant influence and control under GAAP are very similar to the concepts used in IFRS.