What best describes the nature of 'short-term memory' in the memory system?

The correct choice accurately reflects that short-term memory holds information for a brief period. Short-term memory, also known as working memory, is characterized by its limited capacity and duration, typically retaining information for about 20 to 30 seconds. This type of memory allows individuals to temporarily store and manipulate information, such as recalling a phone number just long enough to dial it. The understanding of short-term memory is crucial in various cognitive tasks, including problem-solving, reasoning, and comprehension, as it plays a pivotal role in our immediate thought processes.

In contrast, the other options do not align with the established characteristics of short-term memory. For instance, the notion that short-term memory retains information permanently is incorrect as that describes long-term memory. The idea that it is only accessed during multitasking is misleading since it is used regularly in various situations, not exclusively during multitasking. Lastly, the claim that it processes sensory information exclusively suggests a limited function that overlooks the active manipulation of information characteristic of short-term memory.