Names of these variables originate from names of the corresponding tools. Usually the meaning of these abbreviations is the following:
CCstands for “C compiler” (in GCC abbreviation it is also treated as “compiler collection”).LDis a linker (comes from “link editor” or from “loader”).
These are also commonly used in makefiles (see Implicit variables chapter of GNU Make manual):
CPPstands for “C preprocessor”CXXis a C++ compilerASis an assembly language compilerARis an archive-maintaining program