Which of the Following Statements Is Not Correct

Which of the following statements is not correct?

A) Periodic allocations of acquisition cost, made on a systematic and rational basis, are recognized as current expense in conformity with the matching principle.
B) Amortization accounting is a process of valuation, not of allocation.
C) At acquisition, tangible, capital assets are recorded at cost on the basis of the cost principle.
D) Subsequent to acquisition, tangible capital assets that have a limited life are reported at the cost recognized at acquisition less accumulated allocations of such cost.