Read the following information and answer the questions :

A and B entered into partnership to supply stationery items without any terms and conditions. A contributed ₹ 1,00,000 as capital while B contributed 20,000 only but he allow his building to be used as the firm office. After running business for nearly nine months they felt urgency of funds and same was fulfilled by B by providing ₹ 80,000 as loan to the firm. At the end of the accounting year, they made a profit of ₹50,000. They decide to expand their business in future by admitting C into the firm and also to make agreement in writing containing all the terms and conditions. 

Identify the document that contains the terms of the agreement between the partners.

Partnership Deed

The correct answer is Option 3- Partnership Deed.

A partnership deed is a legal document that outlines the terms and conditions under which a partnership operates. It is a written agreement between the partners that defines the rights, responsibilities, and obligations of each partner and establishes the rules for the management and operation of the partnership.