Which statement is correct regarding the CPU?

The statement that the CPU is a core component that processes instructions is accurate because the CPU, or Central Processing Unit, is often referred to as the brain of the computer. Its primary function is to execute instructions from programs by performing calculations, making logical decisions, and controlling the operation of other hardware components. The CPU fetches instructions from memory, decodes them, and subsequently processes them, which is essential for running applications and the operating system.

In contrast, the other choices do not accurately describe the role of the CPU. For instance, while managing memory allocation is a crucial system function, it involves components like the memory management unit rather than being limited to the CPU's core responsibilities. The visual display is handled by components such as the graphics processing unit (GPU), not the CPU itself. Lastly, storage devices are entirely separate from the CPU; they are responsible for retaining data over the long term, whereas the CPU focuses on processing instructions in real-time.