What is Managed and Unmanaged code?

•  Managed code is a code which is executed by CLR (Common Language Runtime) i.e all application code based on .Net Platform. It is considered as managed because of the .Net framework which internally uses the garbage collector to clear up the unused memory.
• Unmanaged code is any code that is executed by application runtime of any other framework apart from .Net. The application runtime will take care of memory, security and other performance operations.