A. Confuse other drivers and cause them to turn into your path.
B. Damage the electrical system.
C. Keep other drivers from seeing your brake light.
Correct. If you are indicating, drivers may think you are turning and might pull out in front of you.
Newer bikes sometimes have self-cancelling indicators. They can work on the change in angle of the bike, a timer that turns them off after a pre-defined number of seconds, or the change in the speed differential between the front and rear wheel.
However, you should get used to doing it yourself otherwise you might get on another motorbike that doesn't have self-cancelling indicators and you'll forget and cause a problem for yourself when another vehicle pulls out in front of you thinking that you are turning.
Similarly, at the rear, there are integrated taillights and indicators available for some bikes.
Modern indicators have LEDs rather than bulbs.
Surface-mounted - these indicators sit on the surface and can be used to cover indicator mounting holes on some models of bike.
Numberplate-mounted - these indicators sit either side of your numberplate.
Mirror-mounted - it's possible to get indicators integrated into your mirrors which can clean up the profile of your bike.