It started as a personal goal. Molly decided to stay home with her kids rather than work outside of the home, and she felt she needed to be very efficient and mindful in the food she prepared for her family. She shopped sales, and put together weekly meal plans that were nutritious and affordable. After several months, several of her neighbors who still worked outside of the home asked if Molly would take care of their shopping and meal planning in exchange for payment. She agreed to creat a menu and buy the necessary groceries based on in-season produce and local sales, customized to allergy and food preference needs. That was the start of Molly's Meal Maker, a business that now services more than 20 families in her town. She estimates that if she had the capacity, she could quickly have about 200 clients for the business. Molly offers a service similar to national brands (e.g., Hello Fresh). However, she is able to compete based on three competitive advantages. First, her concept is more affordable, as she creates the menu around locally discounted items. Second, her concept is fresh and local, based on produce that is in-season and sourced from nearby farms. Third, she customizes the menu to meet allergy and food preference requests of her clients. Molly has several employees who work with her, and is planning to rent a storage facility in order to meet the increasing demand. She is enjoying her success, but is also worried about cash flow issues. She shops in advance, and then is paid upon delivery. She realizes that she will need to have cash available for the purchases prior to being paid by the clients, and realizes it will take months to save up enough cash to cover this cost without a line of credit. She also recognizes that her business will make more than enough money to cover expenses and be profitable most of the year, but that there are a couple of months when clients tend to not use her services because they have events and parties, like December. During those months she will need to have access to extra cash to cover the rent of the storage facility. 1. In order to cover the cost of weekly groceries prior to payment from clients, Molly should consider using which of the following types of deposit accounts? Multiple Choice automated teller machine certificate of deposit checking account saving account line of credit 2. In order to have the money necessary to pay the rent for the storage facility during months when she has less income, Molly should consider opening which of the following types of deposit accounts? Multiple Choice savings account checking account certificate of deposit credit card automated clearinghouse fund 3. Molly encounters regular expenses with some stores, such as Target. Molly should consider opening which of the following types of deposit accounts to take advantage of offers and discounts specifically offered through those stores? Multiple Choice checking account reward card money market account certificate of deposit commercial checking account
It started as a personal goal. Molly decided to stay home with her kids rather than work outside of the home, and she felt she needed to be very efficient and mindful in the food she prepared for her family. She shopped sales, and put together weekly meal plans that were nutritious and affordable. After several months, several of her neighbors who still worked outside of the home asked if Molly would take care of their shopping and meal planning in exchange for payment. She agreed to creat a menu and buy the necessary groceries based on in-season produce and local sales, customized to allergy and food preference needs.
That was the start of Molly's Meal Maker, a business that now services more than 20 families in her town. She estimates that if she had the capacity, she could quickly have about 200 clients for the business. Molly offers a service similar to national brands (e.g., Hello Fresh). However, she is able to compete based on three competitive advantages. First, her concept is more affordable, as she creates the menu around locally discounted items. Second, her concept is fresh and local, based on produce that is in-season and sourced from nearby farms. Third, she customizes the menu to meet allergy and food preference requests of her clients.
Molly has several employees who work with her, and is planning to rent a storage facility in order to meet the increasing demand. She is enjoying her success, but is also worried about
1. In order to cover the cost of weekly groceries prior to payment from clients, Molly should consider using which of the following types of deposit accounts?
Multiple Choice
automated teller machine
certificate of deposit
checking account
saving account
line of credit
2. In order to have the money necessary to pay the rent for the storage facility during months when she has less income, Molly should consider opening which of the following types of deposit accounts?
Multiple Choice
savings account
checking account
certificate of deposit
credit card
automated clearinghouse fund
3. Molly encounters regular expenses with some stores, such as Target. Molly should consider opening which of the following types of deposit accounts to take advantage of offers and discounts specifically offered through those stores?
Multiple Choice
checking account
reward card
money market account
certificate of deposit
commercial checking account
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