Final answer:
The equation represents a quadratic equation.
Step-by-step explanation:
The correct statement is 1) The equation represents a quadratic equation.
A quadratic equation has one side with a squared variable expression and the other side with a numeric expression. It can be written as ax^2 + bx + c = 0, where a, b, and c are constants.
For example, the equation x^2 + 3x - 4 = 0 is a quadratic equation because it has a squared variable expression (x^2) and a numeric expression (3x - 4).