On August 1 of year 1, Riverside Corp. (RC), a calendar year taxpayer, acquired the assets of another business in a taxable acquisition.An APA is a legallybinding contract between a buyer and seller that finalizes the terms and conditions of an acquisition. The District attempts to explain fully and explicitly what it wants and the terms and conditions of sale. Question: On July 1 of year 1, Riverside Corp. (RC). A calendar-year taxpayer, acquired the assets of another business in a taxable acquisition. Ensure a successful asset acquisition with our detailed asset purchase agreement checklist, covering all critical steps from agreements to finalization. Preparing an On-line Requisition for an Add-On.