Final answer:
The correct statement about the transition from intrauterine to extrauterine existence is that it lasts from birth to day 28 of life, also known as the neonatal period.
Step-by-step explanation:
The transition period between intrauterine and extrauterine existence for the newborn lasts from birth to day 28 of life. This is also known as the neonatal period, marked by the newborn making drastic adjustments to a new environment that is colder, brighter, and louder compared to the womb.
Adjustments include the shift from placental to lung-based oxygenation and the need to regulate body temperature independently. The statement that this transition period consists of four phases, two reactive and two of decreased responses, is not fully accurate since the transition does not follow a clear cut number of phases, while the focus here is on the overall time span of adjustment.