What binary values are represented by a single bit?

A single bit can represent two distinct values: 0 and 1. This is foundational in digital systems, where a bit is the most basic unit of information. In binary numeral systems, 0 typically represents an "off" state or absence of value, while 1 represents an "on" state or the presence of value.

The choice of values such as True or False and On or Off relates closely to the meaning behind the binary values, but they are interpretations of the binary values rather than the values themselves. For example, True is often associated with 1 and False with 0, and similarly, On can represent 1 and Off can represent 0. However, at the core, the intrinsic values of a single bit are strictly 0 or 1. The option that states 1 or 2 inaccurately suggests that a single bit can represent three distinct values, which is incorrect as it can only hold one of two possible states at any time. Thus, the correct answer emphasizes the binary nature of a single bit.