Final answer:
It is true that XML and JSON are both widely used formats for the exchange of information between web services, with XML being more traditional and extensive, while JSON is preferred for its lightweight and simplicity.
Step-by-step explanation:
The statement that XML and JSON are both common formats for the exchange of information between web services is true. Extensible Markup Language (XML) has been a standard for data interchange since the 1990s. It's designed to be self-descriptive and is used extensively in various industries and applications. JavaScript Object Notation (JSON) is a more lightweight data interchange format that is easy for humans to read and write and easy for machines to parse and generate. Due to its simplicity and ease of integration with JavaScript, JSON has become the preferred data exchange format for web service APIs in many cases, especially for RESTful services.