Final answer:
The statement is true as requirements gathering involves the team collecting all necessary information from clients and stakeholders, consulting experts, and conducting a root cause analysis to identify the true problems to be solved.
Step-by-step explanation:
The statement, 'The requirements team meets with the client and users to extract all relevant information' is True. Requirements gathering is a crucial phase in project management and system development. The process involves the requirements team gathering information from customers and other stakeholders, finding expert information, and performing activities such as doing a root cause analysis to determine the underlying issues that need to be addressed by the solution. Through meetings, interviews, surveys, and document analysis, the team ensures that they have a comprehensive understanding of what the client and users expect from the project deliverable.