clip

The term used to describe a video or audio asset, especially after it has been imported into Final Cut Pro. Clips appear in the browser and the timeline.

An audio clip and video clip in the browser

Clips in Final Cut Pro point to (link to) source media files on a storage device. When you modify a clip, you’re not modifying the media file, just the clip’s information in Final Cut Pro. This is known as nondestructive editing.