A Purchaser Has Agreed to Purchase All of the Shares

A purchaser has agreed to purchase all of the shares of Rain Ltd., a CCPC.Rain Ltd.owns fifteen significant capital assets, all of which have appreciated in value.Which of the following statements is correct?

A) The purchaser will obtain a cost base of the assets equal to their fair market values.
B) Capital cost allowance will be based on fair market values of the assets for the purchaser.
C) The sale will result in business income for the vendor.
D) The purchaser will acquire the liabilities of Rain Ltd.