Which of the following is categorized under disbursements?

The correct choice here is cash refunds, as they are a clear example of disbursements. Disbursements refer to any funds that a business pays out, which represents a decrease in cash. Cash refunds occur when a business returns money to a customer for a variety of reasons, such as product returns or overpayments. This transaction characterizes a movement of cash out of the business, fitting neatly into the definition of disbursement.

In contrast, daily sales reports are not disbursements; they are internal documents that summarize sales activity for a given period and do not involve the movement of cash. Employee salaries, while they do involve payment for services rendered, are typically considered compensation rather than disbursements in the context of financial reporting. Inventory purchases are also cash outflows, but they represent an investment in assets rather than a straightforward disbursement like cash refunds. Thus, cash refunds specifically highlight the disbursement of funds being returned to customers, making them the correct choice.