Putting a simple if-then-else statement on one line

How do I write an if-then-else statement in Python so that it fits on one line?

For example, I want a one line version of:

if count == N:
    count = 0
else:
    count = N + 1

In Objective-C, I would write this as:

count = count == N ? 0 : count + 1;

That's more specifically a ternary operator expression than an if-then, here's the python syntax

value_when_true if condition else value_when_false

Better Example: (thanks Mr. Burns)
'Yes' if fruit == 'Apple' else 'No'


Now with assignment and contrast with if syntax

fruit = 'Apple'
isApple = True if fruit == 'Apple' else False

vs

fruit = 'Apple'
isApple = False
if fruit == 'Apple' : isApple = True

Stack Overflow Q#2802726, score: 2625