Which statement regarding the reducing balance method of depreciation is incorrect?
- AA lower amount of depreciation is charged in the early years of the asset’s life than in the later years.
- BEach year a given percentage is deducted from the cost of the asset less the depreciation to date.
- CIt is used for assets which give greater benefits in the early years of their life.
- DThe net book value of the non-current asset will never reach a nil value.