Please answer everything I need to submit in 40minutes.

QUESTION 2 (9 marks: 16 minutes) REQUIRED: Answer the following questions: (a) You and a friend were looking at Afrox Ltd's annual financial statements. You pointed out that the independent auditor's report for Afrox Ltd for the 2019 financial year indicated a qualified audit opinion. Your friend has no idea what this means. Explain to them what this audit opinion means, what other opinions the independent auditor could have given and briefly explain each. (3) (b) The bookkeeper of Crown Traders received a bank statement from the bank showing the transactions that took place during the month of October 2020. He asks you what process he should follow on receipt of this statement at month-end in order to perform a bank reconciliation and why this is necessary. Briefly advise him. (2) (c) You are an accountant at Long Way Ltd. The directors of Long Way Ltd are considering the buy- back of shares and have asked you to look into the matter. Discuss and advise the directors of Long Way Ltd on the advantages and disadvantages of a company purchasing back its own shares. (2) (d) A friend of yours asks you whether there is a difference between a company's profit before tax and taxable income. Briefly explain and provide an example to explain your answer. (2)