Which of the following statements is true with regard to WDV method of depreciation?

(i) The rate at which the asset is written off reduces year after year (ii) The amount of depreciation provided reduces from year to year (iii) The rate of depreciation as well as the amount of depreciation reduce year after year (iv) The value of the asset gets reduced to zero over a period of time.

Under WDV method: (i) The RATE of depreciation remains constant (e.g., 15% each year) - it does NOT reduce. (ii) The AMOUNT of depreciation reduces annually because it's calculated on the diminishing written-down value (a smaller base each year). (iii) Since rate is constant and amount decreases, this statement is false. (iv) In practice, assets rarely reach exactly zero; a small residual value typically remains. Therefore, only statement (ii) is correct.