Which of the following are types of collections for property sold or services rendered to the public or to another Federal Agency?

• A. Receipts
• B. Refunds
• C. Payments
• D. Reimbursements

Answer: (D)

Reimbursements are the money collected to recover the costs of property sold or services provided to others, whether the recipient is a member of the public or another Federal Agency. This type of collection happens when the government bills for the actual cost of the goods or services and the payer reimburses those costs, often via interagency billing or customer charges. It’s a specific inflow tied to offsetting the expense of delivering the property or service.

Receipts cover all inflows to the government from various sources and aren’t limited to cost recovery. Refunds are repayments of money already paid in error or due to policy, and payments are outlays or disbursements leaving the government.