The statement is fully justified, because the water cycle keeps moving water from where there is plenty of it to where it is needed, and keeps putting back what is used up.
Sun heats oceans, rivers and lakes → water evaporates as water vapour
Plants and trees add vapour by transpiration
Vapour rises, cools and condenses into clouds
Clouds travel over land and give rain, snow and hail (precipitation)
Water flows into ponds, lakes, rivers and oceans, or infiltrates into the ground
⇒ back to the start of the cycle
Redistribution — the vapour rises mostly over the oceans but the clouds carry it far inland, so rain falls on hills, plains, forests and fields thousands of kilometres from the sea. Snow that falls on the mountains melts in summer and flows down as rivers, feeding places that get very little rain of their own.
Replenishment — the rivers, lakes and wells we draw water from are refilled every year by the same cycle. Rainwater that seeps into the ground recharges the aquifers, so groundwater sources are made good again.
The bigger point: the water cycle also conserves the total amount of water on the Earth. Not a drop is created or destroyed — the same water is used, returned and used again. What we can lose is water at a particular place, which is why rainwater harvesting and recharge pits matter so much.
Tip: in an exam, name all four processes — evaporation, transpiration, condensation and precipitation — and then say clearly what is redistributed and what is replenished.