Questions: In what order are current assets listed?

The answer is: By liquidity.

Explanation for each option:

1. Alphabetically: This option is incorrect. Current assets are not listed alphabetically in financial statements. The order of listing is based on how quickly they can be converted into cash.

2. By liquidity: This is the correct answer. Current assets are listed in order of liquidity, meaning the ease and speed with which they can be converted into cash. Typically, this order starts with cash and cash equivalents, followed by marketable securities, accounts receivable, inventory, and other current assets.

3. By importance: This option is incorrect. The importance of an asset can be subjective and varies from one business to another. Financial statements follow standardized accounting principles, which prioritize liquidity over subjective importance.

4. By longevity: This option is incorrect. Longevity refers to the duration an asset is expected to be held or used by the company. Current assets are short-term in nature, typically expected to be converted into cash within one year, and are not listed based on their longevity.

In summary, current assets are listed by liquidity to provide a clear picture of a company's short-term financial health and its ability to meet immediate obligations.