Which of the Following Is a Change in Accounting Principle

Multiple Choice

Which of the following is a change in accounting principle?

I. A change from LIFO to FIFO
II. A change in estimated salvage value of depreciable asset
III. A change from an accelerated depreciation method to straight-line depreciation
IV. Recording depreciation for the first time on machinery purchased five years ago

A) I, II, III, and IV
B) I, II, and III
C) I, III, and IV
D) I and III