The correct statement that describes why the student is incorrect is:
Energy is converted from other forms, not created.
As the object falls, the gravitational potential energy it has due to its height above the ground is converted into kinetic energy as it gains speed. There is no new energy being created; rather, energy is being transformed from one form to another. This process adheres to the law of conservation of energy, which states that energy cannot be created or destroyed, only transformed.