Which of the following options represents the correct ascending order of the given terms?
1. Trillion
2. Thousand
3. Billion
4. Hundred
5. Million

To arrange the terms in ascending order (smallest to largest value), let us look at their numerical equivalents in powers of $10$:
6. Hundred $=10^2$
7. Thousand $=10^3$
8. Million $=10^6$
9. Billion $=10^9$
10. Trillion $=10^{12}$

Arranging them from the smallest to the largest value gives the sequence: 4, 2, 5, 3, 1.