the act of allocating; apportionment.
the state of being allocated.
the share or portion allocated.
Accounting. a system of dividing expenses and incomes among the various branches, departments, etc., of a business.

1525–35; < Medieval Latin allocātiōn- (stem of allocātiō), equivalent to allocāt(us) (see allocate) + -iōn- -ion

allocative, adjective
deallocation, noun
reallocation, noun
suballocation, noun Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
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World English Dictionary
allocation (ˌæləˈkeɪʃən)
1.  the act of allocating or the state of being allocated
2.  a part that is allocated; share
3.  (Brit) accounting a system of dividing overhead expenses between the various departments of a business
4.  social welfare (in a Social Services Department) the process of assigning referrals to individual workers, thus changing their status to cases

Collins English Dictionary - Complete & Unabridged 10th Edition
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Word Origin & History

1530s, from Fr. allocation, from M.L. allocationem (nom. allocatio), noun of action from allocatus, pp. of allocare (see allocate).
Online Etymology Dictionary, © 2010 Douglas Harper
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Example sentences
Allocations are always shifting as needs change and communications technology
There are a mind-numbing number of spectrum allocations, ranging from military
  communications to astronomical research.
However, as one poster noted, the internal cost allocations are different.
With wise allocations, investments can grow exponentially.
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