The Collaborative International Dictionary of English v.0.48:

Baking \Bak"ing\, n.
   1. The act or process of cooking in an oven, or of drying and
      hardening by heat or cold.
      [1913 Webster]

   2. The quantity baked at once; a batch; as, a baking of
      bread.
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   Baking powder, a substitute for yeast, usually consisting
      of an acid, a carbonate, and a little farinaceous matter.
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The Collaborative International Dictionary of English v.0.48:

Bake \Bake\ (b[=a]k), v. t. [imp. & p. p. Baked (b[=a]kt); p.
   pr. & vb. n. Baking.] [AS. bacan; akin to D. bakken, OHG.
   bacchan, G. backen, Icel. & Sw. baka, Dan. bage, Gr. fw`gein
   to roast.]
   1. To prepare, as food, by cooking in a dry heat, either in
      an oven or under coals, or on heated stone or metal; as,
      to bake bread, meat, apples.
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   Note: Baking is the term usually applied to that method of
         cooking which exhausts the moisture in food more than
         roasting or broiling; but the distinction of meaning
         between roasting and baking is not always observed.
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   2. To dry or harden (anything) by subjecting to heat, as, to
      bake bricks; the sun bakes the ground.
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   3. To harden by cold.
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            The earth . . . is baked with frost.  --Shak.
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            They bake their sides upon the cold, hard stone.
                                                  --Spenser.
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WordNet (r) 3.0 (2006):

baking
    adj 1: as hot as if in an oven [syn: baking, baking hot]
    n 1: making bread or cake or pastry etc.
    2: cooking by dry heat in an oven