Final answer:
True, Microsoft Office 365 is an example of cloud suite application software, offering collaborative functions including cloud storage, word processing, and a comprehensive collaboration platform.
Step-by-step explanation:
True: Microsoft Office 365 is indeed an example of a cloud suite application software. In today's environment, multiple technologies facilitate electronic conferencing and collaboration. Cloud storage services like Microsoft's OneDrive provide the convenience of accessing files from any device and allow for easy sharing and collaborating, with the assurance that everyone is working on the latest version of a document thanks to automatic saving.
Word processors such as Microsoft Word offer features, like comment boxes and Track Changes, that enable multiple users to suggest, accept, and reject modifications within a document. Furthermore, collaboration platforms like Microsoft Teams integrate file sharing, chat, video conferencing, and task-organizing functions to create a shared online workspace for effective communication among team members.