This sounds like an interview question but it is not. I don't have QTP, QC, UFT, ALM in front of me because I am in between projects. (Hint in case anyone is looking for an automation developer)
I have been asked how does QTP send back results from a test to QC. Also how does it report results when several scripts are run from the test lab in a bunch? Where do the result go in QC/ALM? Do they show up separately in QC? In a group?
If I had the set up in front of me, I'd just try it, but I do not.
I have been either looking at the results from a separate run or creating my own output reports that I save on the O/S.
Run Results and Run Steps are properties of a RUN, which has a direct link to a Test Instance.
If you "execute test set", each test instance will have its own run entity created, each run has its own run steps - which is the collection of results comprised of Reporter Events and summaries.
You can drill down to run results and run steps from the test instance in the TEST LAB module, or from ALM/QC11 onwards by going straight to the TEST RUNS module.