Difference between Build,Release and Version

NO	Build	Release	Version
1	Build is Executable file.	Release means which ready to use it.	Version is extension of the build.
2	Build is handed over to the tester to test the developed part of the project.	Release hand it over to Client/Customer after completion of development and testing phase.	Version is number of release made according to the addition of requirement of the client.
3	Build refers to the S/W part which  still in testing. or which is not tested yet.	Release refers to the S/W which is no longer in testing.	Version refer Variation of an earlier or original type of S/W
4	Build can be rejected by test team if defect found or it does not meet the certain requirement.	One Release can have several builds associated with it.	Version  based on the Build, not Vice Versa..
5	Build is nothing but a part of the application.	Release is noting but the application.	Version is nothing but the application.
6	Eg: Componet	Eg: Apple released new iphone 4.	Eg: I have downloaded latest version IE9