Final answer:
The statement regarding the colonists' objection to the principle of taxation is true; they were more concerned with the lack of representation in taxation matters.
Step-by-step explanation:
The statement 'The colonists did not necessarily object to the principle of taxation, but rather how the tax money would be applied' is true. During the period leading up to the American Revolution, many colonists were frustrated not with the idea of being taxed per se, but with the lack of representation in the British Parliament, which controlled taxing and spending. This sentiment was encapsulated in the phrase 'no taxation without representation'.
The statement 'The colonists did not necessarily object to the principle of taxation, but rather how the tax money would be applied' is true.
Learn more about Colonists' Taxation Concerns