The moon was formed when an asteroid hit the earth, and created a ring of debris in impact.

The statement is True.

There are various theories explaining the origin of the Moon. The leading theory is the giant-impact hypothesis which is often called Big Splash or the Theia Impact. The hypothesis suggests that an asteroid which has almost the same size of Mars hit the Earth for about 4.5 billion years ago then the moon was formed from the debris.

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