Plain English Meaning
A final engine test done while still on the ground. The pilot pushes the throttle forward to a set power level and checks that the engine and key systems behave the way they should before taking off.
Full Definition
A pre-takeoff engine and systems check performed at a designated area near the runway, in which the pilot brings the engine to a higher power setting to verify magnetos, propeller, engine instruments, and other systems are operating correctly before flight.