Width: This measurement is from the inside edge to the outside edge of the face of the frame style.
Rabbet: This measurement is the inside cavity depth of the frame.
Height: The same dimension as the Rabbet, but includes the portion above the lip. The height specifies how far off the wall the frame will protrude.
Lip: The lip is the portion of the frame that hangs over the edge of the item being framed. Typically not specified because the lip is a near standard 1/4" on all frame styles