Is it true that 2Mg + O₂   $\to$2MgO is a balanced chemical equation?

 

The given statement is true.

When magnesium ribbon burns with a dazzling flame and changes into a white powder. This powder is magnesium oxide. It is formed due to a reaction between magnesium and oxygen present in the air. It can be written in a balanced equation as:

$2\mathrm{Mg} +{\mathrm{O}}_2\to 2\mathrm{MgO}$ 

The number of atoms of elements on both sides is equal.