A function execution is any use of a function where the results are NOT being assigned to a variable name. A list of ColdFusion functions that can be run in this manner (Execution Functions) can be found in appendix C.
<CFSCRIPT>
// Set a variable using an assignment statement
datenow = now();
// Set a variable with the SetVariable function
SetVariable('datenow', now());
</CFSCRIPT>