Concept:
Corrosion is an electrochemical process. The relative areas of anode and cathode strongly affect the rate of corrosion.
Step 1: In galvanic corrosion, the metal with lower reduction potential behaves as anode and undergoes oxidation.
So statement (A) is correct.
Step 2: In stress corrosion, the stressed portion acts as anode and corrodes faster.
So statement (B) is correct.
Step 3: In concentration cell corrosion, the region with less oxygen generally acts as anode and undergoes corrosion.
The portion below water level may corrode readily due to oxygen concentration difference.
So statement (D) is correct.
Step 4: Corrosion is more severe when a small anodic area is connected to a large cathodic area.
If cathode area is smaller, corrosion rate does not become more.
Therefore, the incorrect statement is:
\[
\boxed{\text{The rate of corrosion is more, when the area of cathode is smaller}}
\]