Step 1: Understanding the Concept
The menstrual cycle follows a fixed hormonal sequence.
Step 2: Order of events
III: GnRH causes release of FSH, which develops follicles.
I: rising estrogen causes a surge of LH at mid-cycle and ovulation.
IV: the corpus luteum secretes progesterone and some estrogen.
II: without fertilisation, the corpus luteum degenerates and hormone levels fall.
Step 3: Conclusion
The sequence is III, I, IV, II.
Final Answer:
The sequence is III, I, IV, II.
\[ \boxed{\text{(B) }\text{III}\rightarrow\text{I}\rightarrow\text{IV}\rightarrow\text{II}} \]