Final answer:
Collection of cash from accounts receivable does not affect the overall balance of the accounting equation; one asset increases while another decreases, leaving liabilities and stockholders' equity unchanged.
Step-by-step explanation:
The collection of cash from accounts receivable is a transaction that affects the accounting equation, specifically the assets and stockholders' equity parts of the equation. Since accounts receivable is an asset, when cash is collected, it means that one asset (accounts receivable) is decreasing while another (cash) is increasing. There is no change in the total assets, and the liabilities remain unaffected.
Therefore, the accounting equation, which is assets = liabilities + stockholders' equity, remains balanced. As there is no direct effect on liabilities or stockholders' equity, the answer to whether the collection of cash from accounts receivable affects the accounting equation is false.