Concept:
An arithmetic sequence is one in which the difference between consecutive terms is constant.
Step 1: Check Option (A).
\[
4-1=3,\quad 9-4=5,\quad 16-9=7
\]
Differences are not constant.
Not an arithmetic sequence.
Step 2: Check Option (B).
\[
5-3=2,\quad 7-5=2,\quad 9-7=2,\quad 11-9=2
\]
Common difference is constant (=2).
Arithmetic sequence.
Step 3: Check Option (C).
\[
4-2=2,\quad 8-4=4,\quad 16-8=8
\]
Differences are not constant.
Not an arithmetic sequence.
Step 4: Check Option (D).
\[
2-1=1,\quad 4-2=2,\quad 8-4=4
\]
Differences are not constant.
Not an arithmetic sequence.
Hence, the correct answer is (B).