Final answer:
The statement is true as discovery in IT operations indeed identifies hardware and software dependencies, and maps out the relationships between these IT components and the business applications they support.
Step-by-step explanation:
The statement that discovery identifies basic hardware and software dependencies and captures all the relationships between them and the business application they support is True. In the context of IT operations and asset management, discovery is a process that scans an enterprise's IT infrastructure to identify and catalog IT assets, both hardware and software. This includes identifying types of hardware like servers, workstations, and network devices, as well as software applications, operating systems, and any associated patches or updates. The discovery process also entails mapping out relationships and dependencies between these components, creating a comprehensive view of how they collectively support specific business applications. This mapping is essential for various IT management tasks, including incident management, change management, and ensuring that IT aligns with business processes.