Acetic acid is a tribasic acid.
Step 1: The basicity of an acid is defined as the number of Hydronium ion(s) produced by the ionization of an acid in an aqueous solution.
Step 2: Acetic acid contains four hydrogen atoms in its molecule, but three of its hydrogen atoms combined with carbon form a covalent bond, and the hydrogen attached to oxygen is of polar nature, so the hydrogen of -OH releases only one hydronium ion in an aqueous solution.
Step 3: Acetic acid contains four hydrogen atoms in its molecule, but it releases only one hydronium ion in an aqueous solution thus, it is called a monobasic acid.
Correct statement: Acetic acid is a monobasic acid.
Therefore, the given statement is false.