Answer:
The statement is a TRUE statement.
Explanation:
We know that the standard form of an ellipse is given as:

where a and b are the x and y-intercepts respectively.
Also when the denominator i.e. a=b then,

Hence, we get the general equation of a circle whose center is at the origin and radius is 'a' or 'b' units.
Hence, the statement:
If the equation of an ellipse is in standard form and the denominators are equal, then the ellipse is a circle is a TRUE statement.