Silence Does Not Indicate Assent to an Offer, Even If

question 24

True/False

Silence does not indicate assent to an offer, even if both parties agree beforehand that this is to be the means of acceptance.

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Definitions:

Posting Reference

An alphanumeric code or number used to identify the original journal entry in the ledger, facilitating the tracking of transactions and their origins in accounting records.

Posting Process

The procedure of transferring journal entry details into the ledger to update account balances.

Journal

An accounting record where all transactions are initially recorded in chronological order before being posted to ledger accounts.

Ledger

A comprehensive collection of a company's financial accounts, recording all transactions and financial activities over time.