The correct answer is TRUE.
A critic may comment on all elements of a short story (theme, plot, characters, time, setting, etc) because he writes on what the public is interested to know about any literary work.
As regards the theme, a critic may state whether it is well presented and reflected in the short story.
As regards the plot, it is important to know whether it is traditional (introduction, rising action, climax, and conclusion) or if there is some experimentation such as a story told from different points of view.
As regards the characters, a reviewer can make a short analysis of how they interact in the story.
Time and setting are also important in the development of a story so they are usually taken into account by a critic.