QUESTION 2 At the end of 2003 and 2004, a number of banks and financial institutions in Zimbabwe were placed under curatorship or liquidation. While some analysts would argue that the banks and financial institutions affected were no longer following prudent banking principles, others would point out that, while that might be true, it should be acknowledged that banking business in general and the lending function in particular is fraught with a lot of misrepresentations and it was just a matter of time before these misrepresentations were exposed, especially in an economy they consider was overbanked. In view of the above: a) Using an example, at any point in the evolution of the monetary and banking system, outline clearly, the weaknesses of misrepresentations of the banking businesses, especially the lending function. [8 marks] b) Given your answer in (a) above, outline the four different ways through which a rogue banker could, after unjustifiably mislead the market, then take advantage of the gullibility of the same market and create invalid claims and receipts. [8 marks] c) How has the accounting system (transactions reporting) contributed to the continued existence of this misrepresentation? Suggest an alternative way of transaction reporting that would help avoid problems highlighted in (b) above. [9 m