What is a value or variable passed to a function or procedure used for providing data or returning data?

The correct choice is found within the context of how functions and procedures operate in programming. A parameter is a special kind of variable used in the definition of a function or procedure. When a function is created, it can specify parameters, which act as placeholders for the values that will be passed to the function when it is called.

Parameters allow functions to accept input, which can be used within the function to perform operations. When an argument is passed to the function, it corresponds to the parameter defined in the function, filling in that placeholder with actual data. This means parameters essentially define the structure of the data that can be accepted by the function, while arguments are the actual values provided during a function call.

Understanding this distinction is crucial because parameters are part of the function’s signature, defining what it accepts, while arguments are the specific data input at runtime. Therefore, the term that best fits the description of being a value or variable passed to a function or procedure used for providing data or returning data is "parameter."