All the following are source of finance to a joint stock company except

The answer to the question is "cooperative loans." A joint-stock company can raise funds through the issuance of shares, debentures, and bank loans. However, cooperative loans are not a source of finance to a joint-stock company. Cooperative loans are usually provided to cooperative societies, not joint-stock companies. Cooperative societies are different from joint-stock companies in terms of their ownership structure and operations. Cooperative societies are owned and operated by their members, while joint-stock companies are owned by shareholders who may not be involved in the day-to-day operations of the company. Therefore, cooperative loans cannot be a source of finance to a joint-stock company.