1. What is the net asset acquisition method in business combination?

Net asset acquisition means that the acquirer purchases the assets and assumes
the liabilities of the acquire. Also, under this method is the statutory merger and
statutory consolidation. Payment may be in cash, exchanged property, or issuance of
either debt or equity securities.
2. What is a bargain purchase? Describe the accounting procedures necessary to
record and account for a bargain purchase.
A bargain purchase in a business combination is when a corporate entity is
acquired by another for an amount that is less than the fair market value of its net
assets. It is also the negative amount resulting from the computation of goodwill. An
acquirer must record the difference between the purchase price and fair value as a gain
on the balance sheet as negative goodwill while the difference in the price paid and fair
value is recorded as a gain. 
3. What is the importance of the acquisition date in accounting for business
combination?
Acquisition date is the date on which the acquirer obtains control of the acquiree
or the acquired entity. It is also called the closing date. With this, it is important since it
determines when the acquirer recognizes and measures the consideration transferred,
the assets acquired, and liabilities assumed.