Step 1: Understanding the onto function.
A function \( f : x \to y \) is said to be onto (or surjective) if every element in the codomain \( y \) has a corresponding element in the domain \( x \). In other words, the range of the function is equal to the entire codomain.
Step 2: Conclusion.
Since \( f \) is an onto function, the range of \( f \) is equal to the codomain \( y \). Therefore, the statement is true.