Final answer:
The statement is true; colonists objected to lack of representation in how their taxes were used, a principle encapsulated in the famous slogan "No taxation without representation."
Step-by-step explanation:
The statement that colonists did not necessarily object to the principle of taxation, but rather how the tax money would be applied is true. The main contention for the colonists was the lack of representation in the Parliament that passed the tax laws. This sentiment is encapsulated in the famous phrase "No taxation without representation." The colonists were willing to pay taxes, but they wanted their voices to be heard and to have a say in how their tax money was utilized. This conflict over tax principles versus tax application was one of the many causes that led to the American Revolution.
Learn more about Colonists' View of Taxation