Which One of the Following Statements Is NOT True

Which one of the following statements is NOT true?

A) Replacement cost and adjusted book value are cost-based valuation approaches.
B) The replacement cost approach involves restating the value of the individual assets in a business to reflect their fair market values.
C) The replacement cost of a business is the cost of duplicating the assets of the business in their present form as of the valuation date.
D) The replacement cost valuation approach is generally used to value individual assets within a business when they are being insured.