Why is the accounting year mentioned in the partnership deed?

Correct answer: To decide the period for profit calculation

The governing concept is the accounting period, which provides a consistent time frame for recording transactions and determining the firm’s financial results. Mentioning the accounting year helps establish the period for preparing accounts, calculating profit or loss, and making the related appropriations among partners. For instance, results may be measured for a twelve-month period ending on a specified date, subject to applicable law and the firm’s agreed practice. Thus option A is correct. Increasing customers, choosing the colour of goods, and stopping bank charges are business or banking matters, not purposes of an accounting-year clause.