When buying or selling an RIA practice, one of the most important documents you'll encounter is the Asset Purchase Agreement (APA). In an asset purchase transaction, the acquirer selects the assets it is purchasing, as well as the liabilities it is assuming.How do I create a requisition when I don't know who the supplier will be or how much it will cost? Both the buyer and seller must complete IRS Form 8594 during the sale to report the sale and purchase of business assets. The Purchase Price shall be allocated among the Purchased Assets as mutually agreed between Buyer and Seller, based on the report to be delivered by.