The University of Toronto publishes an excellent reference of university terms for students and parents:
Glossary of University Terms
The Ministry of Education has a policy of full disclosure. This policy states that all Grade 11, 12 courses attempted by students must be recorded on Ontario Student Transcripts. Full disclosure does not apply to students in Grades 9 or 10. Any Grade 11, 12 course completed, dropped or failed will appear on a student transcript along with the marks earned in the program.
Full disclosure will take effect 5 instructional days following the issue of the November/April Provincial Report Card in a semestered school.