Hype: A range for a manually ranged voltmeter is the number of knob positions.
A range for us folk might be 300.0 mV, 3.000 V, 30.00 V, 1000 V . e.g 0-1000 V in 4 ranges. Counts may go to 3000 because a lot of voltages are 12, 15 and 24 and thus you can measure those higher voltages with better resolution. Earlier meters were 1.999 full scale. On the Fluke 77, the 300 mV range has to be manually selected. The others auto range. 1000 V is a typical maximum voltage for a DVM.
Basic functions are AC voltage, DC voltage, AC current, DC current, and Diode Test. Current ranges are sometimes limited as well.
Frequency, inductance, capacitance, batter test and even Hfe (Current gain of transistors) have been added with limitations.
Limitations exist for all measurements.