Not exactly - I think you have to respond to the offers in descending order of your interest. If you really want Offer A, but they refuse to negotiate on a sticking point, you tell them that first in hopes that they will loosen up. If they still won't budge, you turn them down, then go on to accept Offer B instead. If there's a third Offer, C, that's not as attractive as B, you notify them after you've accepted B, as you originally suggested.