Step 1: The general equation of a line is given by:
\[
y = mx + c,
\]
where \( m \) is the slope and \( c \) is the y-intercept.
Since the line cuts an intercept of 1 on the y-axis, we have \( c = 1 \). Thus, the equation of the line becomes:
\[
y = mx + 1.
\]
Step 2: The lines are equally inclined to the axes, meaning the angle between the line and the x-axis is the same as the angle between the line and the y-axis. This occurs when the slope \( m \) is \( \pm 1 \), because the tangent of \( 45^\circ \) is 1.
So, the equations of the lines are:
\[
y = x + 1 \quad {and} \quad y = -x + 1.
\]
Step 3: Rewriting these equations in general form:
\[
x - y + 1 = 0 \quad {and} \quad x + y + 1 = 0.
\]
Thus, the correct answer is \( x - y - 1 = 0, x + y + 1 = 0 \).