a. 11. Revaluation of net assets Which of the following is true with respect to the revaluation of net assets prior to partnership realignment? Partnership net assets can only be written down to net realizable value and cannot be increased if market value exceeds their book value b. Partnership net assets cannot be revalued as a result of partnership realignment When partnership net assets are revalued in anticipation of a realignment transaction, the resulting gains and losses accrue only to the partners who have an ownership interest in the entity during the period in which the net assets changed in value d. When partnership net assets are revalued in anticipation of a realignment transaction, only the resulting gains accrue to the partners who have an ownership interest in the entity during the period in which the net assets changed in value. Losses are allocated in proportion to the relative balances of the Capital Accounts. C