There are two elements in a module manifest: cmdlet and function.
What is the difference between a cmdlet and a function?
A cmdlet is a .NET class written in C# or other .NET language and contained in a .dll (i.e. in a binary module). A function is specified directly in PowerShell in a script, script module or at the command line. A module manifest may include both script and binary modules so the manifest needs to be able to export both cmdlets and functions. It's even possible to have both a cmdlet and a function with the same name exported from a single manifest though that's generally not recommended.