Final answer:
The correct order to present current assets is cash, accounts receivable, inventories, and prepaid items.
Step-by-step explanation:
The correct order to present current assets is cash, accounts receivable, inventories, and prepaid items. This order is determined by the liquidity and the ease with which these assets can be converted into cash. Cash is the most liquid asset as it can be easily used to settle obligations, followed by accounts receivable, which represents money owed to the company.
Inventories come next, as they represent goods that will be sold shortly. Prepaid items are presented last, as they represent expenses that have been paid in advance and will be used up over time.