All squares are also rhombuses and rectangles.

Concept: The diagonals of a square bisect each other just like the diagonals of a rhombus.

As a result, all squares are rhombuses.

Squares have adjacent sides that are perpendicular to each other and opposite sides that are equal and parallel to each other, just like rectangles. As a result, all squares are also rectangles.

As a result, the given statement is True.