Ahh now that then falls into a different kettle of fish which can be quite subtle.
Its not really asking if you are equiped as all planes are, with having minimal VFR equipment on board and the fact you are talking on a radio.
What the controller is asking is if you can accept a vector. Now if everything is CAVOK then your hunky dory. If there are clouds dotted about you may have issues if a vector takes you into them if you must remain VFR. What you really don't want to happen is for the controller to think you can obey every instruction they give you.
What you don't want to happen is accept a vector then some 10 miles later decide you can't keep it. Cause then you might not be able to get a word in to tell the controller that you have to change heading, and the controller might be running traffic in the direction you want to turn which you can't see.
Now personally I am rated to fly in clouds so I would accept a vector without a thought and no further comment if I had the required instruments. But if your not rated to fly in clouds or the plane isn't equiped. Its in yours and the controllers interest to make sure the "contract" you have with them is on the baises that you might not be able to maintain that vector.