Final answer:
Updating a flat file system is not efficient since it could require rewriting the entire file, causing it to be time-consuming and error-prone, especially with large files.
Step-by-step explanation:
The statement that updating a flat file system is efficient and consumes less time is False. A flat file system, which is a collection of data stored in one large file, can be inefficient when it comes to updating information. These systems do not support complex transactions or concurrency, which means that when data needs to be updated, it may require rewriting the entire file rather than just making small changes. This process can be time-consuming and prone to errors, especially with larger files or in situations where multiple updates occur concurrently.