I presume the dummy unit is a diesel. Yes, a Loksound Select decoder will work. Since there is no motor to power, you can use one of the less-expensive HO decoders. There is no need to put a resistor across the motor leads. Loksound decoders don't use back-EMF to control sound. Also, a resistor doesn't produce back-EMF.
I would recommend pairing the decoder with a 4 ohm audiophile Tang Band 1925S speaker module, which has its own sealed enclosure and a passive subwoofer. It should fit in most diesels. In a "covered wagon" such as an F-unit, it may be possible to fit the larger T1-2025SC or even a T1-1942SB. Either of these may require removing some material inside the unit.