Final answer:
The brain stem includes the midbrain, pons, and medulla oblongata, which can be observed on the ventral surface and are critical for autonomic functions and sensory information processing. Therefore, the given statement is TRUE.
Step-by-step explanation:
The brain stem is an essential part of the brain that consists of the midbrain, pons, and medulla oblongata. These three regions can indeed be observed on the ventral surface, which is the front part of the brain stem that faces towards the back of the body when in an anatomical position. The midbrain is responsible for processing auditory and visual information. The pons serves as the main connection to the cerebellum and shares functions with the medulla oblongata, which oversees autonomic functions such as respiration and cardiovascular regulation. Together, these three regions play a crucial role in maintaining vital bodily functions and connecting the brain to the spinal cord.