Final answer:
The statement that the colonists objected to how the tax money would be applied, rather than the principle of taxation itself, is true. Their dissatisfaction stemmed from a lack of representation in the British legislative process.
Step-by-step explanation:
The statement 'The colonists did not necessarily object to the principle of taxation, but rather how the tax money would be applied' is True. The colonists' primary concern was with the lack of representation in the British Parliament, which gave rise to the famous slogan 'no taxation without representation'.
They were opposed to the idea that taxes were being levied by a government in which they had no voice or vote. Thus, the issue was not with taxation itself but with the perceived lack of influence over how those tax funds were used and the decisions about taxation that were made without their input.