The Receipts and Payments Account is a summary of the cash book over a particular period of time, usually a year. It shows all the cash and bank transactions of a non-profit organization during that period, including the receipts and payments of both capital and revenue nature.
Therefore, the correct answer is (B) cash book. The receipts and payments account is not a summary of income and expenditure, balance sheet, or profit and loss. Rather, it is a summary of the cash book which records all the cash and bank transactions of the organization.