What is the legal contract signed by the owners of a partnership that includes the name, responsibilities, and share of profits or losses?

• A. Articles of Association
• B. Certificate of Incorporation
• C. Company
• D. Deed of Partnership

Answer: (D)

This is about the contract that binds owners in a partnership. A deed of partnership is the formal agreement among partners that records the partnership’s name, what each partner is responsible for, and how profits or losses will be shared. It provides the legally binding framework for how the business is run and how changes to the partnership are handled, such as admitting new partners or dissolving the partnership. Other documents relate to companies rather than partnerships: Articles of Association govern a corporation’s internal rules, and a Certificate of Incorporation is the document that creates a company. Since the scenario describes a contract among partners detailing who they are, what they do, and how profits and losses are divided, the Deed of Partnership is the appropriate term.