It means that the right side of the line is the base point and the left side will be 'ragged.' It is typically done with the left side aligned. You can also align both sides which is the way most books and newspapers are printed.
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Numbers always appear towards the right of a cell, as they are right-aligned. Text normally appears to the left of a cell. Alignment for text can be set to the right, like if you want the text to the right of a cell to be closer to the data in the next cell. Pressing Ctrl - 1 will open the Format Cells dialog box. On the Alignment tab, you can choose to set the alignment to the right.