(1) The act of receiving. (2) A social gathering where guests are formally welcomed.
Example:
Although the reception of her plan was enthusiastic, it was months before anything was done about it.
Reception is the noun form of receive. So at a formal reception guests are received or welcomed or "taken in." If your idea for a great practical joke gets a lukewarm reception, it has not been well-received or accepted. Bad TV reception means the signal isn't being received well. And when a new novel receives good reviews we say it has met with a good critical reception.