1. Executable code, especially a "pure code" portion shared between multiple instances of a program running in a multitasking operating system.
2. Textual material in the mainstream sense; data in ordinary ASCII or EBCDIC representation (see flat ASCII). "Those are text files; you can review them using the editor."
These two contradictory senses confuse hackers too.
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Nearby terms: Texas Instruments « Texinfo « TeX point « text » text-based » text editor » Text Encoding Initiative