The correct answer is option 1, Baikal. Lake Baikal is the deepest lake in the world. It is located in Siberia, Russia and has a maximum depth of approximately 1,642 meters (5,387 feet). It is also the largest freshwater lake by volume, containing about 20% of the world`s unfrozen surface freshwater.

Now let`s dissect the other options to understand why they are not the correct answers. Option 2, Balkash, is a shallow lake in Kazakhstan and China and does not have the same depth as Lake Baikal. Option 3, Tanganyika, is the second deepest lake in the world, but it is not deeper than Lake Baikal. Finally, option 4, Victoria, is the largest lake in Africa by surface area, but it is not as deep as Lake Baikal. Hence, the correct answer is option 1, Baikal, as it is the deepest lake in the world.