Final answer:
The ROUND function can indeed be used to round numeric data to any position relative to the decimal point, which is true because it is an integral part of precision handling in calculations.
Step-by-step explanation:
The statement 'The ROUND function can be used to round numeric data to the left or right of the decimal point' is TRUE. When performing mathematical operations such as addition or subtraction, the ROUND function can be utilized to ensure that the result reflects the number with the least number of decimal places. This is significant because, in addition and subtraction, you generally want to round the result to the same number of decimal places as the number in the operation with the fewest decimal places. For example, adding 13.2 (one decimal place) to 12.252 (three decimal places) would give 25.452, which should be rounded to 25.5 to maintain the correct number of decimal places dictated by the least precise measurement, which in this case is 13.2.