If a partnership does not satisfy the requirements of the primary economic effect test, partnership allocations still can have economic effect if which of the following is true:

a$.$

The alternate economic effect test in Treasury Regulations Section $1\mathrm{.}704-1($b$)(2)($ii$)($d$)$ is satisfied.

b$.$

The economic effect equivalence provision in Treasury Regulation Section $1\mathrm{.}704-1($b$)(2)($ii$)($i$)$ is satisfied.

c$.$

Partnership income and loss is allocated pro rata in accordance with deficit restoration obligation.

d$.$

Both $($a$)$ and $($b$)$