An outline is
a. a dictionary entry
b. an organized or systematized arrangement of important elements of a topic
c. a place to locate information
d. all of the above

Your answer would be B: an organized or systematized arrangement of important elements of a topic 

An outline could be both B and C. They are mostly used for briefly giving the main points or summary of something or could be used for drawing up an outline or sketch for something, even organizing and locating information.

Reflects an exhaustive study of it's words.

Jacob has the highest money