Here some terminology and technology from present and past get intertwined.
Of course there is no standardization insitute existing to set this straight.
Some of the following was already covered by the previous speakers.
A look into the past:
When recordings were still done on tape machines, the numer of tracks were limited. Once a portion of the song (e.g. a drum submix, vocals, a guitar part) was considered complete, it was
printed to a spare track on the same tape machine, thus freeing several other tracks previously occupied by the submix.
The sound quality was degraded by this action due to the added media limitations (compression, noise). After this step, the previous tracks were deleted and no individual corrective changes could be done to them afterwards. The term "printing" implies a hard copy
as is.
The whole process was called
bouncing.
(Believe it or not, Sergeant Pepper´s was done on a 4 track system.)
Printing on a
current DAW would mean rendering a selected portion of the project into an (uncompressed) file.
Bouncing would mean to re-import this file into the project while deleting the source files.
However, this cumbersome process is no longer needed with today´s DAWS:
* There is no
practical limitation for the number of tracks, although at some point the project may become unmanagable, HDD speed and space may become a factor, and the audio interface may congest.
* There is the option for
freezing tracks, thus relieving the CPU from realtime calculations. This action can be undone in a mouseclick to allow for further audio processing.
Freezing happens on a per-track basis. The audio source file plus all applied effects are printed to an intermediate file, which restricts the realtime load on the DAW to file I/O. Note that this action does not currently (as per MX Ver. 7) free the memory claimed by the used plug-ins.
* Inside the DAW (Mixcraft at least) there is no sound degradation due to the media, no noise (for all practical reasons at least), no unwanted compression, not even clipping distortion (due to the 32bit floating representation of audio).
* there is submixes that can be "folded" so as to hide the tracks within from the screen.
Having that said, some
mastering services use a similar procedure (albeit for different reasons) during mastering:
A stem, also known as a submix, subgroup, or bus track, is a single audio file made by combining similar tracks. For example, you can create a "vocal stem" by soloing all vocal layers simultaneously and exporting them as a single stereo audio file. Unlike for traditional mixing, you should leave all of your volume, panning, plugins, and automation enabled when exporting stems.
Verdict:
During the mixing and recording stage, since there is no sensible action to reflect the process described before (printing and re-importing) inside a DAW (for the reasons it was done in analog times), and also no need, the term "bouncing" best gets eliminated. The only
vague resemblance is
freezing.
There is no practical media limitations that would justify the additional effort and loss of comfort caused by bouncing.
There is other concerns inside contemporary DAWs, such as CPU load, memory usage, and user interface (screen cluttering) that must be addressed. Make yourself familiar with the concepts of freezing and subgroups to manage tracks.
For mastering, a functionally similar process can be used (stem mixing), albeit for different reasons. This is mentioned, because you
could use your DAW to accomplish this.
-helmut