The statement "A word’s meaning consists of denotation and connotation," is true.
Connotation and Denotation are two principal methods used to describe the meanings of words. Connotation consists on the wide array of positive and negative associations that most words naturally carry with them. To put it simple, it is an idea or feeling which a word invokes for a person in addition to its literal or primary meaning. Meanwhile, denotation is the precise, literal definition of a word that will be found in a dictionary.