Final answer:
Libraries in coding hold related functions in a condensed format and can be imported into a coding environment for use.
Step-by-step explanation:
The statement, "Libraries hold related functions in a condensed format and can be imported into a coding environment for use" is true. Libraries in coding serve as collections of pre-written code that can be reused in different programs. They allow programmers to save time and effort by avoiding the need to write the same code repeatedly. By importing libraries into their coding environment, programmers can access the functions within the libraries and use them in their programs.