The vertical distance covered by target in time t is given as,
y1=12gt2
The initial vertical component of velocity of the bullet is zero. Therefore, the vertical distance covered by bullet in the same time t is,
y1=12gt2
As both the distances are equal therefore, after time t the bullet and the target will be at same height.
This means bullet always hit the target whatever be the distance between the gun and the target.
Hence, the given assertion is correct.