Final answer:
The statement is False because ALTER SETTINGS permission allows changing server-wide options but doesn't implicitly grant EXECUTE permission on sp_configure.
Step-by-step explanation:
The statement ALTER SETTINGS permission grants EXECUTE permission on sp_configure is False. In Microsoft SQL Server, the ALTER SETTINGS server-level permission does allow a user to change server-wide configuration options using the sp_configure stored procedure, but it does not grant EXECUTE permission on sp_configure by default. To execute sp_configure, a user must have the EXECUTE permission explicitly granted or be a member of the sysadmin fixed server role, which inherently has all permissions.