Which of the following is a characteristic of a stock sale in business acquisition?

In a stock sale during a business acquisition, the buyer purchases the seller's stock, leading to the transfer of ownership of the entire business entity. This means that all of the business's assets—both tangible and intangible—are included in the sale, along with all existing liabilities. The new owner essentially steps into the shoes of the previous owner, taking on not only the assets of the business but also its obligations and identity. This is a significant characteristic of stock sales because it provides the buyer with a complete picture of what they are acquiring, ensuring that they understand the full scope of the business's financial situation.

The other options do not accurately represent the nature of a stock sale. For instance, stating that only tangible assets are included ignores the fact that intangible assets, such as intellectual property and goodwill, are also critical components of a business's value. Similarly, a focus solely on rights and obligations overlooks the transfer of the entity’s identity and comprehensive assets. Lastly, the assertion that property is acquired without the associated liabilities misrepresents the full implications of a stock sale, as it inherently involves both sides of the business's financial standing. Thus, the complete transfer of all liabilities, assets, and business identity is what defines the stock sale in business acquisitions