Final answer:
A text file does not contain formatting, images, video, or any non-text multimedia elements, and consists only of readable characters like letters, numbers, and punctuation marks.
Step-by-step explanation:
A text file is a type of computer file that contains only plain text without any formatting, which means it does not have text styles like bold or italics, different fonts, varying font sizes, or advanced layouts that you might find in formats like .docx or .pdf. Text files also do not typically contain images, video, or any non-text multimedia elements. Therefore, a text file generally consists of letters, numbers, and other textual characters, such as punctuation marks and whitespace, that can be read by most software programs designed to handle text, such as text editors or word processors.