C₂H₅OH(l) + 3O₂(g) → 2CO₂(g) + 3H₂O(l), ΔH = -1

C₂H₅OH(l) + 3O₂(g) → 2CO₂(g) + 3H₂O(l) , ΔH = -1.37 × 10³ kJ
For the combustion of ethyl alcohol as described in the above equation, which of the following statements is(are) true?
I. The reaction is exothermic.
II. The enthalpy change would be different if gaseous water were produced.
III. The reaction is not an oxidation-reduction one.
IV. The products of the reaction occupy a larger volume than the reactants.

A) I, II
B) I, III, IV
C) I only
D) III, IV
E) I, II, III