Final answer:
The statement 'Are we building the product right?' accurately pertains to the concept of verification in engineering, which is true. It checks if a product is built according to its design and specifications, contrasted with validation which assesses if the product fulfills user needs.
Step-by-step explanation:
The statement "Verification can be termed as 'Are we building the product right?'" is True. Verification in the context of engineering and product development is a process that checks if the product is being built according to its specifications and design. It's different from validation, which seeks to ascertain whether the final product meets the needs and requirements of the users. Verification answers the question of whether the product is being built correctly, whereas validation answers whether the right product is being built.
In relation to evaluating the truth of a statement or text, such as a sacred text, we might rely on personal beliefs or authority declarations. However, in an engineering and scientific context, verification relies on compelling evidence to substantiate the correctness of the development process. For instance, a sacred text's truth can be debated based on interpretative versions and its ability or inability to report events that can be empirically verified or falsified. In engineering, however, the focus is on tangible, quantifiable factors that indicate whether a product's construction aligns with predetermined criteria.