Answer
True
Work Step by Step
There are two unknown quantities $C_1$ and $C_2$ which must be determined.
One initial condition will only give us a relation between $C_1$ and $C_2$ but two initial conditions will give us two relations which we can then use to determine both $C_1$ and $C_2$.
In fact, this particular equation can be interpreted as the height(y) of a projectile on Earth with respect to the time(t). In this context, $C_1$ represents the initial velocity and $C_2$ represents the initial height.