What is the meaning of "Amplification", "Gain" and "Range" when using PowerLab data acquisition systems?

Most physiological signals (when converted to a voltage using a transducer) require "amplification" to allow the user to clearly identify the signal waveforms.
Traditional systems (i.e. Grass amplifiers) may express amplification in terms of "gain" (i.e. multiples of 1, 10, 100 or 10,000).
However, the "range" settings of the PowerLab data acquisition systems express the signal amplitude in LabChart as actual voltage levels. This is performed by amplifying the signal and then dividing the processed signal by the degree of amplification/gain, thereby allowing the user to record the signal as the actual generated value.
For example, if the user selected the 500 ?V Range in LabChart and was recording a signal with an actual amplitude of 200 ?V, then user would see the signal recorded in LabChart as 200 ?V (even if it underwent an amplification of 20,000 times).