Single State DFA can recognize either $\phi$ OR $\Sigma^*$.
Since the question is asking for "finite language" accepted by 1-state DFA, So, answer will be $L = \phi$. That's why the given statement is True.
NOTE that, 1-state DFA can recognize either $\phi$ OR $\Sigma^*$.
$L = \{ \epsilon \} $ is NOT the empty language.
$L = \{ \} $ is the empty language.
For $L = \{ \} $, the minimal DFA has 1 state.
For $L = \{ \epsilon \} $, the minimal DFA has 2 states.