Final answer:
The statement is False as collisions can conserve momentum and transform or transfer energy among objects, and are not necessarily a complete loss.
Step-by-step explanation:
The statement "A collision is a complete loss unless something is gained from it" is False. In Physics, collisions are categorized based on how they conserve energy and momentum. In an elastic collision, objects do not lose any of their internal kinetic energy after impact. However, in a perfectly inelastic collision, objects may stick together and could result in the maximum loss of kinetic energy, but the total momentum of the system is conserved. The collision theory in chemistry defines an effective collision as one that results in product formation when chemical bonds are broken. Hence, a collision does not necessarily equate to a complete loss as it may result in a variety of outcomes including momentum transfer, product formation, or energy conversion.