1. Many conservatives argue that the U.S. economy can flourish only when the federal government gets out of the private sector's way. Many progressives counter that in our free market system, there are times when the government needs to step in to protect the common good and ensure there is broad-based economic growth. How do these political issues relate to the government's response to the coronavirus outbreak?
2. Assume medical care has to be rationed as a result of the number of affected citizens. Discuss the ethical considerations in making triage decisions.
3. Describe the ethical values that inform how we should deal with all aspects of the coronavirus.
4. Do you personally feel it is appropriate for the government to restrict your ability to leave your home during the crisis for reasons other than emergencies, buying food, picking up prescriptions and gassing up the car? Explain why using ethical reasoning to support your view.
5. Consider FASB Concepts Statement No. 8, as amended. What are the conceptual issues underlying financial reporting in determining how the coronavirus event should be reported and disclosed in the financial statements? How does it relate to the measurement of potential costs to the business including contingencies?
6. Explain the accounting and auditing issues related to the coronavirus event with respect to accurately determining reportable amounts and disclosures of events.
7. Which group(s) represent the public interest with respect to accounting for the events surrounding the coronavirus and what are their interests?
8. Based on what you know to date, evaluate whether the crisis has been handled properly by the various stakeholders. Use ethical reasoning to support your view.

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1 Government Intervention in the Economy and Response to the Coronavirus Outbreak Conservatives may argue for minimal government intervention advocating for policies that prioritize free market princi... View the full answer