Depending on company procedures:
Could be Pilot Flying setting approx power, and being ready to abort takeoff by closing power levers. Meanwhile, Pilot Not Flying fine tunes engines to take off power setting and checks instruments, allowing Pilot Flying to look outside to keep aircraft straight etc.
CPB
P.S. More likely on smaller aircraft as thrust management likely to be less advanced.
[ 18 February 2002: Message edited by: Capt Pit Bull ]</p>