False
According to Newton's Second Law of Motion, the net force on an object is equal to the product of its mass
(M) and acceleration (A)
.
That is: F(net)= M×A
If the net force on the object is zero, the acceleration of the object is also zero.
However, this does not mean that the object is in rest. It means that the object will continue to maintain its state of rest or uniform motion, according to Newton's first law of motion. If the object was moving, it will continue to move with a constant velocity.
Hence, the statement is false.