Your Latest Articles module shows a list of the most recently published Articles - when setting up this module you can choose the number of articles to list
For example if you set the number of articles to list as: 5, then the latest 5 articles to be published will be listed. If set to 10, then the latest 10 articles will be listed in this module.
You can also set the category - for example, if you have three categories: Category One, Category Two, and Category Three.
You can create a Latest Category One module to list the latest articles that are assigned to Category One - the same process for Category Two, and Category Three.
If you set the number of articles to list higher than the total number of articles available only the articles you have will show.