La Playa Azul Resort is a resort commonly visited by the local tourists and has a great ambiance for family gathering, group outings, teambuilding activities and many more. As a resort, summer time is the peak season, thus, it necessitates further renovation and maintenance in order to keep its beauty and to be able to attract more tourists. Renovation was done and repairs and maintenance were already performed, however, unexpectedly, the operation of the resort was affected by the pandemic. The negative implications brought about by the pandemic affected their profitability and liquidity. For more than 5 months, the resort was not able to operate as mandated by the regulatory agencies. Questions: 1. If you are part of the management, what will be your next move towards the situation? 2. What managerial accounting concepts/principles will you apply in order to analyze the situation and make sound decisions? 3. Considering that resorts are permitted to open with some restrictions, what will you do on behalf of La Playa Azul in order to bounce back and recover the expenditures? 4. Will you consider closure as one of your options in analyzing the scenario? Why or why not