It is false.
This type of question is there to confuse students. Although, we do develop applications on platform provided, its security is total responsibility of the cloud customer.

As with security. compliance in the cloud is a shared responsibility model. Both the cloud provider and customer have responsibilities. But the customer is always ultimately responsible for their own compliance. These responsibilities are defined through contracts, audits/assessments. and specifics of the compliance requirements.
Reference: CSA Security Guidelines V.4(reproduced here for the educational purpose)

Application Programming Interfaces allow for programmatic management of the cloud. They are the glue that holds the cloud's components together and enables their orchestration. Since not everyone wants to write programs to manage their cloud, web consoles provide visual interfaces. ln many cases web consoles merely use the same APIs you can access directly.
Reference: CSA Security Guidelines V.4 (reproduced here for the educational purpose)

Risk tolerance is the amount of risk that the leadership and stakeholders of an organization are willing to accept.

This is an example of Data Breach. Username and passwords were stolen which were stored as Data.