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What is program counter?

Program Counter register controls the sequence in which the instructions are fetched from the memory. It stores the address of the next instruction to be fetched for execution. When the instruction is fetched, the value of PC is incremented. Thus this register always points or holds the address of next instruction that is to be fetched.

Instruction register (IR):

Once an instruction is fetched from main memory, it is stored in the Instruction Register. The Control Unit takes instruction from this register, decodes and executes it.

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