Question: 22. Michael Phelps, the U.S. Olympic swimmer, spends $2,000 on traveling costs around England after the London Olympic game. This is counted as: a. Debit

22. Michael Phelps, the U.S. Olympic swimmer, spends $2,000 on traveling costs around England after the London Olympic game. This is counted as:

a. Debit to services.

b. Credit to services.

c. Debit to unilateral transfer.

d. Credit to unilateral transfer.

CONTRARILY...

If the residents of a country receive money from their relatives living abroad, it will be counted as:

a. credit in the current account

b. debit in the current account

c. credit in the capital account

d. debit in the capital account

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