Final answer:
An individual's maximum volume of oxygen consumption, known as VO2 max, is true. It is a key indicator of aerobic physical fitness and endurance capacity during prolonged exercise.
Step-by-step explanation:
The statement that an individual's maximum volume of oxygen consumption is referred to as his/her VO2 max is true. VO2 max is a measure of the maximum rate of oxygen consumption measured during incremental exercise. This measurement reflects a person's aerobic physical fitness and is an important determinant of their endurance capacity during prolonged exercise. In health and fitness, VO2 max is used as an indicator of a person's cardiorespiratory health and can be influenced by factors such as age, gender, fitness level, and altitude.