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QUESTION 16 FICA taxes include: O Social Security and Medicare taxes. O Charitable giving O Employee state income tax Federal and state unemployment taxes. O Employee federal income tax. Amortization is: O The systematic allocation of the cost of an intangible asset to expense over its estimated useful life. The process of allocating to expense the cost of a plant asset to the accounting periods benefiting from its use O The process of allocating the cost of natural resources to periods when they are consumed. O An accelerated form of expensing an asset's cost Also called depletion