$1.$ Agencies have to set their own depreciation schedule for assets they procure and manage. Which of the following is typically depreciated?

A$.$ Federal building

B$.$ Federal supplies

C$.$ Hertiage asset

D$.$ Federal land

$2.$ Recording liabilities accurately and timely is one of the most important job requirements of accountants. Government liabilities that arise from government$-$related events are recognized $($recorded as a liability$)$ when:

A$.$ The payment is due and payable to the ultimate payee

B$.$ The future outflow of resources is probable and measurable

C$.$ The event occurs if the future outflow of resources is possible, even if it is not measurable

$3.$ Cost of removing hazardous waste from a facility operated by a federal agency are recognized as a liability when the future outflow of resources is:

A$.$ Probable

B$.$ Reasonably possible

C$.$ Probable and measurable

D$.$ Remote