The 'Target and Bid' audience target setting does not narrow your ad's audience.

The statement is false because 'Target and Bid' does narrow your ad's audience. When you select 'Target and Bid' for an audience, your ads will only be shown to users who are part of that specific audience segment. This is in contrast to the 'Bid only' setting, where your ads are shown to a broader audience (all eligible users) but you can bid higher for those within the specified audience. Therefore, 'Target and Bid' directly restricts ad delivery to the chosen audience, effectively narrowing the reach.