A commercial bank holds the following items on its balance sheet:
I. Balances held at the Central Bank II. Gilts (long-term government bonds) III. Money at call and short notice IV. Advances to customers (mortgages)
Which of the following lists these assets in order from most liquid to least liquid?
I, II, III, IV\text{I, II, III, IV}I, II, III, IV
I, III, II, IV\text{I, III, II, IV}I, III, II, IV
III, I, II, IV\text{III, I, II, IV}III, I, II, IV
I, III, IV, II\text{I, III, IV, II}I, III, IV, II
