Now that you have a better understanding of color, allow me to add to the confusion. Computers also have a specific color depth that is built into the monitor at the time of production. A monitor's color depth is determined by the Display Settings in the control panel.
Keep in mind that if an image's color depth is higher than that of your monitor, it will not display properly. Another thing to keep in mind is that no two monitors display color the same. In order for a monitor to display colors accurately, you have to fine-tune its settings. This is known as calibrating your monitor. A full monitor calibration is a two-step process: The first step is the calibration (changing the monitors display settings) and the second step is to profile the monitor so color-managed applications know how to display colors.
A color profile tells a color managed application like Paint Shop Pro how to display colors (even if the monitor's settings are off). For example, if your monitor displays too much green, then the color profile tells the program that the monitor's red settings are X number of points too high. Paint Shop Pro adjusts the settings and displays your image with X number less of green values, so that the colors onscreen are accurate. Paint Shop Pro has a calibration wizard that helps you to calibrate your monitor. Click File on the menu bar, select Color Management, then click on Monitor Calibration.
Note: Applying a profile is not necessary if colors appear acceptable to you. At the time of release for this version, profiling issues remained, so be sure to check the Corel site for updates if you have troubles using these features.