It is the presentation itself in Slide Show Mode. Older versions of
PowerPoint had what is called the AutoContent Wizard that walked you through
various questions to assist you in creating your presentation. Some folks
created them for handouts/printouts, some for on-screen shows. All it
really did was select a better design for the application needed.
As far as most of us are concerned every time we create a PowerPoint
presentation it is an "on-screen show" because we are going to present the
information using some sort of projector to an audience.
An on-screen show is a presentation that is primarily aimed at being shown
on a screen or some sort (from a 14" monitor to a massive 50ft wide
projected screen).
The other alternative is a presentation that it's main aim would be
'printed'.
It's a lot to do with page sizes (proportions) more than anything. As the
same presentation can be both shown on-screen and printed.
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