For each question, from the following list which best describes the presentation of the item on the financial statements of Helton Corporation for 2015.

A. Change in estimate

B. Accounting error

C. Change in accounting principle

D. Change in entity

E. None of the above

1._ At the end of 2015, an audit revealed that the corporation's allowance for doubtful accounts was too large and should be reduced to 2%. When the audit was made in 2014, the allowance seemed appropriate.

2._ Depreciation on a truck, acquired in 2012, was understated because the service life had been overestimated. The understatement had been made in order to show higher net income in 2013 and 2014.

3._ The company switched from a LIFO to a FIFO inventory valuation method during the current year.

4._ During 2015, a long-term bond with a carrying value of $3,600,000 was retired at a cost of $4,100,000.

5. In 2015, the company changed its method of accounting for an investment from the fair value method to the equity method, because its ownership in the investment was now over 20 percent, and indicated significant influence.