Final answer:
The true statement about the brainstem is that it comprises the midbrain, medulla oblongata, and pons, playing a vital role in regulating essential bodily functions.
Step-by-step explanation:
The correct statement concerning the brainstem is that it consists of the midbrain, medulla oblongata, and the pons. The cerebellum is a separate structure attached to the brainstem but is not considered part of it. The brainstem controls many vital functions, including respiration and cardiovascular regulation, but it is not responsible for higher-level thinking, which is a function of the cerebral cortex. The cranial nerves indeed enter or leave the brain from the brainstem, thus it is the location where all 12 of the cranial nerves interface with the brain. Lastly, while severe damage to the brainstem can indeed be life-threatening, not all such injuries are necessarily fatal, so the most correct statement about the brainstem is that it comprises the midbrain, pons, and medulla oblongata.