Dividends are expenses True False Question 39 (1 point) Continuity means a company will continue indefinitely. True False Question 40 (1 point) If cost of goods sold is understated then net income will be understanded a) True b) False Question 41 (1 point) At the end of a period the revenues and expenses are closed A) to a clearing house B) only when there is a net income for the period C) to zero out assets and liability accounts D) to zero the revenue and expense accounts for the next period