Final answer:
The umbilical cord contains two arteries and one vein, which is the true statement regarding the umbilical cord. It is clamped and cut soon after delivery.
Step-by-step explanation:
The true statement regarding the umbilical cord is that it contains two arteries and one vein. The umbilical cord is a long, narrow conduit that connects the fetus to the placenta, carrying oxygen-depleted blood through the arteries from the fetus to the placenta and returning oxygen-rich blood to the fetus through the vein. The cord is clamped and cut shortly after birth.