WAEC - Economics (2010 - No. 17)
All the following are source of finance to a joint stock company except
debentures
cooperative loans
shares
bank loans
Explicació
In a joint stock company, funds are raised through the issue of shares and reinvestment or earnings, Borrowed funds which consist of the finance raised from debenture holders, public deposits, financial institutions and commercial banks.
cooperative loans are only given to members of a corporative society. It is not a one of the sources of joint stock company