When Dealing Face-To-Face, an Acceptance Becomes Complete as Soon as the Offeree

question 31

True/False

When dealing face-to-face, an acceptance becomes complete as soon as the offeree freely communicates words of acceptance to the offeror.

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Definitions:

Transactions

Financial activities or events that affect the financial position of the company.

Owner's Equity Accounts

Accounts representing the owner’s claim or interest in the business assets after all liabilities have been deducted.

Credits

Entries on the right side of an account, indicating an increase in liabilities, equity, or revenue, or a decrease in assets or expenses.

Posting Reference Notation

A unique code or number used to track the entry of a transaction in the accounting records to its source document.