Compound Propositions: Is Referring to Variables Correct?

[Bashyboy]

In my discrete math textbook, they will take a compound proposition--say, $p \rightarrow q$--and will refer to the propositional variables as compound propositions. This does not seem correct, and input?

 

[Bacle2]

I think it would help if you explained you're question some more and give actual

examples. I'm not clear on what you're asking.