What does the modulo operator (%) return in Python?

The modulo operator (%) in Python is specifically designed to return the remainder after dividing one number by another. When you apply the modulo operator to two integers, it calculates how much is left over from the division of the first number (the dividend) by the second number (the divisor). For example, in the expression 10 % 3, the result will be 1 because when 10 is divided by 3, it goes in 3 times (which equals 9), and there is a remainder of 1.

This operator is particularly useful in various programming scenarios, such as determining if a number is even or odd (for example, number % 2 == 0 indicates the number is even), or when working with cyclic structures like circular queues or wrapping indices.

Other options mentioned do not reflect the function of the modulo operator accurately. The integer quotient is achieved through the floor division operator (//), while floating-point division is performed with the standard division operator (/). The absolute value of the dividend is not related to either the division operation or the modulo operation, as it simply refers to the non-negative value of a number without regard to its sign.