What is the most appropriate meaning of a partnership deed?

Correct answer: Written agreement specifying the partners’ rights and duties

A partnership deed is the written agreement that records the terms and conditions governing a partnership firm. It may specify the partners’ capital contributions, profit-sharing ratio, drawings, interest, salary or commission, duties, authority, and procedures for resolving disputes. Therefore, option A is correct because it directly describes the deed as a written statement of the partners’ rights and duties. A sales receipt merely evidences a sale, a bank loan document records borrowing, and a tax challan records payment or liability of tax; none of these documents establishes the internal relationship among partners. A clear deed provides evidence of agreed terms and helps prevent later misunderstandings.