What is overflow?

Question

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When a binary value is too small to be stored in the bits available
When a binary value is too large to be stored in the bits available
When a denary value is too large to be stored in the bits available
None of the above

Answer 1

what is "denary"? You mean decimal?
in any case, binary or decimal, overflow means too large (positive or negative)
underflow occurs when a floating-point value is too close to zero, so that the negative exponent cannot be stored in the bits available