Final answer:
The assertion is True; the totals on both sides of T-accounts must be equal, as they represent a balance sheet's assets on one side and liabilities plus net worth on the other, ensuring adherence to the accounting equation in double-entry bookkeeping.
Step-by-step explanation:
The statement that the total of ALL the right-hand sides of the T-accounts must equal the total of ALL the left-hand sides of the T-Accounts is True. In accounting, the T-account is a visual representation of the ledger account. This is because a T-account is essentially a simplified version of a balance sheet, which must always balance, meaning total assets (left-hand side) must equal total liabilities plus net worth (right-hand side).
For a bank, assets include reserves, loans made, and securities owned, while liabilities encompass deposits and other debts. The net worth or equity is the difference between total assets and total liabilities and appears on the liabilities side of the T-account to make the equation balance. This adherence to the accounting equation ensures that for every debit entry recorded, there must be an equivalent and opposite credit entry to maintain the balance, a fundamental concept in double-entry bookkeeping.