The correct option is A True
The valency of an atom is the number of electrons it is willing to give up or the number of electrons it is willing to accept. Here, if the lithium atom gives up one electron then it will achieve the configuration of Helium, which is stable. Hence, the valency of Lithium is 1.
Similarly, Chlorine accepts 1 electron to achieve the configuration of Argon. Hence, the valency of chlorine is 1.
Hence, Lithium and Chlorine form an ionic bond by donating and accepting electron to form LiCl