Truth value refers to the attribute of a statement that indicates whether it is true or false. In logic and mathematics, every proposition is assigned a truth value, which helps in evaluating its validity. For example, the statement "The sky is blue" has a truth value of true on a clear day, while "2 + 2 = 5" has a truth value of false. In formal logic, truth values are often represented using binary values: 1 for true and 0 for false. This binary system is fundamental in various fields, including computer science and philosophy, where understanding the truth value of statements is crucial for reasoning and decision-making.