Can these terms be used interchangably?
I know that equity and shares/stock can be used interchangably.
According to CFAI
equity = Assets less liabilities; the residual interest in the assets after subtracting the liabilities.
book value = The net amount shown for an asset or liability on the balance sheet; book value may also refer to the company’s excess of total assets over total liabilities.
To me, they both indicating the same thing, ie total asset minus total liability.
Also what is the difference between these two and book value of equity?
Thanks for the clarification.