All people or things being tallied are present, or their location or status is known or has been considered. Primarily heard in UK. A: "Have you finished checking the inventory?" B: "Yes sir, all present and correct." The students are all present and correct, so we can leave for the field trip now.

The phrase all present and accounted for simply means that everyone or everything is present and accounted for. There is nothing or no one that is not present. This example exchange between two teachers who are chaperoning a student field trip illustrates the correct use of this phrase.