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"Contingencies"Please respond to the following:

• From the e-Activity, briefly discuss the type of contingencies that Coca Cola is involved in and the accounting treatment of such contingencies. Give your opinion on whether the notes to the financial statements disclose the necessary information on the contingencies for interested parties to make an investing decision. Based on the information disclosed, decide whether you would you invest in Coca Cola. Justify your rationale.
• Supposemanagementisinvolvedinasituationwheretheoutcomeofthesituationiscontingentuponcertaineventstooccur;however,managementisunsureofthegenerallyacceptedaccountingprinciplesforreportingcontingencies.Youarethesenioraccountant,andmanagementhastaskedyouwithpreparingareportoncontingencies.Distinguishbetweenagaincontingencyandalosscontingency,andhighlighttheaccountingtreatmentforeachtypeofcontingency.Also,recommendtwo(2)improvementstothereportingrequirementsonlosscontingenciestoFASB.

PLEASE KEEP AROUND 100/150 WORDS IF POSSIBLE