Is Assets Plus Liabilities True

No, it is not true as the correct Accounting Equation shows that Assets is equal to the sum of Liabilities Plus Equity. Mathematically, we can write as shown below:

Assets = Liabilities + Owner’s Equity

Here, Assets are the rights or resources or benefits available for the business in the future while Liabilities (External Sources of Finance) and Equity or Owner’s Equity (Internal Sources of Finance) are the two claims or rights against the assets of the business.