Accountancy Part AAccounting for Partnership

The Partnership deed should be properly drafted and prepared as per t…

The Partnership deed should be properly drafted and prepared as per the provisions of ______.

Answer & explanation

Correct answer: option 1

The correct answer is Option (1) → Stamp Act

NCERT (2026-27 edition):
Partnership Deed – “… The clauses of partnership deed can be altered with the consent of all the partners. The deed should be properly drafted and prepared as per the provisions of the ‘Stamp Act’ and preferably registered with the Registrar of Firms.”