Final answer:
Indeed, the colonists' objection was primarily focused on the lack of representation in how tax money was spent, not the taxation itself.
Step-by-step explanation:
The statement that the colonists did not necessarily object to the principle of taxation but rather how the tax money would be applied is true. During the period leading up to the American Revolution, the colonies were subjected to various taxes by the British government. The colonists' main contention was not with the idea of being taxed in itself, but with the fact that they had no direct representation in the British Parliament which was making decisions on how their taxes were used. This perspective is encapsulated in the popular phrase 'No taxation without representation', which reflected the colonists' demand to have a say in how their tax contributions were governed.