Final answer:
The statement regarding real accounts is true. Real accounts include asset, liability, and owners' equity accounts, which are presented on a firm's balance sheet and are integral to the accounting equation where assets equal liabilities plus net worth.
Step-by-step explanation:
The statement that 'Real accounts consist only of asset, liability, and owners' equity accounts' is true. Real accounts, also known as permanent accounts, are the accounts that appear on the balance sheet and are carried over into the next accounting period. These accounts include assets, which are resources controlled by the firm due to past events and from which future economic benefits are expected to flow; liabilities, which represent obligations of the firm to transfer resources to other entities in the future; and owners' equity (or net worth), which is the residual interest in the assets of the firm after deducting liabilities.
In the context of a bank's T-account, the left side represents the bank's assets, like reserves, loans, and bonds, while the right side captures the bank's liabilities and equity. A T-account is used to depict the basic principle in accounting that asserts assets will always equal liabilities plus net worth. For instance, if we consider a simplified balance sheet, with assets including reserves (30), bonds (50), and loans (50), and liabilities including deposits (300), the equity (net worth) would be calculated as the difference between total assets and liabilities, which in this case would be 30, assuming the balance sheet balances properly.