Any single race which determines the final places and times in an event.  There can be 1, 2, or even sometimes 3 heats of finals.  Generally these Heats are called:

         Fastest Heat        A-Finals or Finals

         Next fastest        B-Finals or Consolations

         Next fastest        C-Finals or Bonus

MM defaults to the name "A-Finals" and "B-Finals" but you can change them to anything you want in the Language Preferences section.