Concept:The Receipts and Payments Account is a cash-based summary that records only actual cash receipts and payments during the period.
Explanation:Receipts and Payments Account is used by non-profit organizations.
It is a summarized form of the Cash Book.
All cash received is entered on the debit side.
All cash paid is entered on the credit side.
Items like subscriptions paid in advance, stock paid for in advance, and donations appear because they involve actual cash received or paid.
Outstanding wages and salaries are amounts due but not yet paid, so no cash transaction has occurred.
Therefore, outstanding wages and salaries are not included in the Receipts and Payments Account.
Answer:C. Outstanding wages and salaries