Strategic alliances generally include the risk of one partner will make advantage of the other's information to strengthen its own competitive position.
A strategic alliance is an agreement between two businesses to work together on a project that will benefit both parties while maintaining their individual freedom. Compared to a joint venture, which sees two companies combine resources to form a new company, the arrangement is simpler and less legally enforceable.
The collaboration between Spotify and Uber is a well-known example of a strategic alliance. Due to their strategic partnership, Uber customers may log in to Spotify and listen to their favorite music while riding.
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Financial statements include assets listed at historical costs. Hence, the assets are recorded at their historical cost.
<h3>What do you mean by historical costs?</h3>
The price paid when an asset was purchased is known as the historical cost. On a company's balance sheet, the majority of long-term assets are recorded at their historical cost.
One of the fundamental accounting principles outlined by generally accepted accounting principles is historical cost (GAAP). The use of historical cost is consistent with conservative accounting because it avoids overstating an asset's value.
Hence, Financial statements include assets listed at historical costs. Hence, the assets are recorded at their historical cost.
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1. Gross income - h. Total income before any deductions are taken
2. Net income - f. Take–home pay
3. Voluntary salary deduction - j. Money you have given
4. Involuntary salary deduction - a. Money taken from your gross pay that you have no control over
5. Fixed expenses - e. Expenditures that are constant from one time period to another
6. Discretionary spending - b. Expenditures that are under your control
7. Fixed income - i. Income that does not vary from one time period to another
8. Principal - d. The initial amount of money that was invested or borrowed
9. Salaried employee - g. Someone who receives a regular salary for employment
10. Insolvent - c. Unable to discharge liabilities or repay debts
