Is it true that the ovary is the female reproductive organ of a flower? 

The pistil is the female reproductive organ in a flower. It consists of the stigma (the receptive part), style (a stalk connecting the stigma to the ovary), and the ovary (which contains the ovules, or potential seeds). The ovary is located at the base of the pistil and it encloses and protects the ovules, which are the precursors to the seeds. Once the ovules have been fertilized, they will develop into seeds within the ovary.