Multi-valued attribute:
A multi-valued attribute is an attribute that can have more than one value for a single entity instance. It means that for a particular entity, there can be multiple values associated with the attribute. For example, consider an entity called "Student" with a multi-valued attribute called "Hobbies". A student can have multiple hobbies such as playing sports, reading books, and painting.

Composite attribute:
A composite attribute is an attribute that can be further divided into multiple sub-attributes or components. It means that a composite attribute is made up of smaller attributes. For example, consider an entity called "Address" with a composite attribute called "Street Address" which consists of sub-attributes like Street Number, Street Name, and Postal Code.

Derived attribute:
A derived attribute is an attribute that is derived or calculated from other attributes. It means that the value of a derived attribute is not stored directly, but it is derived based on the values of other attributes. For example, consider an entity called "Employee" with attributes like "Salary" and "Bonus". The derived attribute "Total Compensation" can be calculated by adding the Salary and Bonus.

Explanation:
Out of the given options, only a multi-valued attribute can have more than one value. Both a composite attribute and a derived attribute have a single value associated with them.

A multi-valued attribute is used when an entity can have multiple values for a particular attribute. It is represented by a double line connecting the entity to the attribute in an entity-relationship diagram. This allows for more flexibility in representing complex data structures.

In contrast, a composite attribute is used to break down a single attribute into multiple sub-attributes. It is represented by a dotted line connecting the composite attribute to its sub-attributes. This helps in organizing and structuring data in a more granular manner.

A derived attribute, on the other hand, is derived or calculated from other attributes. It is not directly stored but can be calculated based on the values of other attributes. This helps in reducing data redundancy and improving data integrity.

Therefore, the correct answer is option 'B' - a multi-valued attribute can have more than one value.