When a data item described by a BLANK WHEN ZERO clause receives the value of zero in a MOVE statement, the item will contain nothing but spaces. In a VALUE clause, initialization is not affected by the BLANK WHEN ZERO clause. This means that if the VALUE clause specifies a value of zero, the data will be placed into the item as is, and the item will contain all zeros instead of spaces.
01 N PIC 9(3) BLANK WHEN ZERO VALUE ZERO. (Result = "000") 88 V VALUE ZERO. SET V TO TRUE (Result = " ") MOVE ZERO TO N (Result = " ")
01 N PIC 9(3) BLANK WHEN ZERO VALUE ZERO. (Result = "000") 88 V VALUE ZERO. SET V TO TRUE (Result = "000") MOVE ZERO TO N (Result = " ")
01 N PIC 9(3) BLANK WHEN ZERO VALUE ZERO. (Result = "000") 88 V VALUE " ". SET V TO TRUE (Result = " ") MOVE ZERO TO N (Result = " ")