How does a non$-$business asset acquisition differ from the acquisition of assets that qualifies as a business?

Question $2$Answer

a$.$

There is no difference in the accounting for the two types of transactions.

b$.$

In an acquisition of net assets that qualifies as a business, the assets are not actually recorded on the investor's books.

c$.$

In a non$-$business purchase of net assets, the assets are valued at fair value while in an acquisition of net assets that qualifies as a business, assets are recorded at book values.

d$.$

In an acquisition of net assets that qualifies as a business, all assets are valued at full fair value regardless of purchase price; while in a non$-$business purchase of net assets the purchase price is allocated to the various assets.