Final answer:
The statement illustrates the Associative Property of multiplication, which indicates that the grouping of numbers does not affect the product of those numbers when multiplied together.
Step-by-step explanation:
The statement 9×(4×7) = (9×4)×7 demonstrates the Associative Property of multiplication. This property states that when three or more numbers are multiplied together, the way in which they are grouped does not affect the product. In other words, the result will be the same regardless of how the numbers are associated or grouped in parentheses.