Run commands
The term rc stands for the phrase "run commands". It is used for any file that contains startup information for a command. It is believed to have originated somewhere in 1965 from a runcom facility from the MIT Compatible Time-Sharing System (CTSS).
From Brian Kernighan and Dennis Ritchie: "There was a facility that would execute a bunch of commands stored in a file; it was called runcom for 'run commands', and the file began to be called 'a runcom'. rc in Unix is a fossil from that usage."