Answer -   The term 'managed' is the cause of much confusion. It is used in various places within .NET, meaning slightly different things.Managed code: The .NET framework provides several core run-time services to the programs that run within it - for example exception handling and security. For these services to work, the code must provide a minimum level of information to the runtime. Such code is called managed code. All C# and Visual Basic.NET code is managed by default. VS7 C++ code is not managed by default, but the compiler can produce managed code by specifying a command-line switch (/com+). Managed data: This is data that is allocated and de-allocated by the .NET runtime's garbage collector. C# and VB.NET data is always managed. VS7 C++ data is unmanaged by default, even when using the /com+ switch, but it can be marked as managed using the __gc keyword.Managed classes: This is usually referred to in the context of Managed Extensions (ME) for C++. When using ME C++, a class can be marked with the __gc keyword. As the name suggests, this means that the memory for instances of the class is managed by the garbage collector