The term "ultimate reality" refers to a concept that is often used in philosophy and religion, which suggests that there exists an underlying truth or existence that serves as the fundamental basis for all things. This idea implies that there is something beyond our everyday experiences and perceptions that provides meaning and purpose to life. In essence, it represents the ultimate explanation of why things are the way they are, and what gives them their true nature or value. The concept of "ultimate reality" can vary greatly between different belief systems, but generally speaking, it points towards a deeper understanding of existence that goes beyond our immediate perceptions and experiences.