Which of the following statements about price elasticity of demand is INCORRECT?

A.When the percentage decrease in the price of a good is greater than the percentage increase in its quantity demanded, the elasticity of demand for it is more than 1.
B.When the percentage increase in the price of a good is greater than the percentage decrease in its quantity demanded, the elasticity of demand for it is less than 1.
C.When the percentage decrease in the price of a good is greater than the percentage increase in its quantity demanded, the elasticity of demand for it is less than 1.
D.When the percentage decrease in the price of a good is the same as the percentage increase in its quantity demanded, the elasticity of demand for it is equal to 1.