This is the area (acreage, square kilometers, etc.) of the top surface area of a lake - measured at a lake's normal elevation. The surface area can be considerably smaller or larger when lake levels are lower or higher than normal. North America's Lake Superior is the world's largest freshwater lake by this measure.
The other measure of a lake's size is the lake's water volume. By that measure, the world's largest freshwater lake is Lake Baikal in Siberia.
You can find many of the world's largest lakes (acres) on Lakelubbers. There is no widely-accepted minimum surface area that defines a lake. What Lakelubbers describes as a lake, you might call a pond. The smallest lake that Lakelubbers currently includes is Hawaii's 2-acre Lake Waiau.