X and Y share profits 3:2. They admit Z for 1/5th share, which he gets entirely from X. The new profit sharing ratio will be: MCQ with Answer and Explanation

Explanation:
Flexible budget changes with activity levels, hence also called variable or sliding scale budget.

Explanation:
Under Ind AS 116, the seller-lessee only recognises a right-of-use asset for the part retained.

Explanation:
ZBB requires justifying all expenses from scratch (zero base) for each period. A Flexible Budget is designed to change with different levels of activity, not a single level (which is a Fixed Budget). S1 is correct, S2 is incorrect.