Final answer:
True, the balance of a T account is found on the side with the larger footing, ensuring that total assets equal liabilities plus net worth.
Step-by-step explanation:
The statement that the balance of a T account is on the side with the larger footing is true. In accounting, a T-account is used to represent the ledger account and is a way of visualizing the effects of a transaction on two different accounts. The name comes from the T shape formed by the two columns that are used to record entries on the account, with debits recorded on the left side and credits on the right.
Assets, which could include financial instruments, reserves, loans made, and U.S. government securities, are typically listed on the left side of a T-account. Liabilities and net worth, which include deposits and any money the bank owes, are listed on the right side. The goal is to have a balanced T-account where the total assets equal liabilities plus net worth, thereby balancing the account to zero.