When we speak of the _Ascension_ of Christ we refer to that
event in the life of our risen Lord in which He departed visibly
from His disciples into heaven. This event is recorded in Acts
1:9-11--"This same Jesus which is taken up from you into heaven,"
etc.
By the _Exaltation_ of Jesus Christ we mean that act of God
by which the risen and ascended Christ is given the place of power
at the right hand of God. Phil. 2:9--"Wherefore God also hath highly
exalted him and given him a name which is above every name." Eph.
1:20, 21--"Which he (God) wrought in Christ, when he raised him
from the dead, and set him at his own right hand in the heavenly
places, far above all principality and power." See also Heb. 1:3.