Final answer:
The statement is true; the 'moment of truth' refers to crucial interactions between a customer and a business that influence the customer's perception.
Step-by-step explanation:
The statement that a moment of truth is defined as any instance when a customer comes into contact with any element or representative of an organization is true. The phrase 'moment of truth' in the context of business and customer service refers to the crucial moments during which a customer interacts with the business and forms an impression about the product or service quality. Such moments can include speaking with customer service, experiencing the product, or any other form of engagement that can influence the customer's perception. A positive moment can lead to customer satisfaction and loyalty, whereas a negative one can lead to dissatisfaction and harm to the company's reputation.